Investing With Your Millionaire Mindset

Back in 1999, a game show debuted on TV asking, “Who Wants To Be A Millionaire?” Most would answer that question with another question, “Well, who doesn’t?”

It’s quite a process and takes some luck to be a contestant on the show in America. Then, if you make it on the show, very few have won a million dollars throughout the twenty seasons. 

You Need A Millionaire Mindset

Different from competing on a game show, if you want to be a millionaire, you need a millionaire mindset. Brian Tracy, a well-known motivational public speaker and self-development author, wrote the following about the millionaire mindset:

“This millionaire mindset, the very act of focusing on your money, will dramatically improve the decisions you make with regard to it. Wealthy people who invest more time planning their finances invariably make better decisions, get better results, and achieve financial independence.”

In an earlier iFlip blog, a reference to the 2018 American Time Use Survey found that Americans spend their time on things other than personal finances. They watch almost three hours of TV per day compared to less than two minutes managing their household finances.

How Do You Spend Your Time?

Compare how much time you watch TV to the amount of time you spend on your personal finances. Then think about the millionaire mindset and what wealthy people do.

Said Tracy, “Wealthy people spend much more time thinking about their finances than people who remain poor. The average adult spends 2-3 hours each month studying and thinking about their money, usually at bill paying time. The average self-made millionaire, by contrast, spends 20-30 hours per month thinking studying and planning his finances.”

Most Would Like To Be Wealthy

A post on Forbes by Jack Kelly says, “Most people would like to be wealthy or at least financially secure. It’s not just the money, it’s what having the money represents—the ability to take care of your loved ones, not having to worry about the bills and enjoying some travel and nice things.”

He encourages a millionaire mindset by thinking and acting differently. To do this, you must have strong commitment, work hard, defer gratification and live beneath your means. 

Anthony ONeal noted on Fox Business, that you must stop comparing yourself to others. “You’re more likely to go over your budget and spend money on things you don’t need when you’re trying to keep up with someone else (or someone else’s Instagram feed).”

“It’s always better to have money than just look like you have money,” remarks ONeal.

Besides the tips offered on the posts listed above, an online search adds other ideas for acquiring the millionaire mindset. At iFlip, personal retirement planning and investing are the best ways to incorporate your millionaire mindset.

Get Rich Slow

It’s best to invest long-term. Warren Buffett has reportedly said that more people don’t invest as he does “because nobody wants to get rich slow.”

See related article 2nd Richest Man

The best algorithmic trading software is used as part of iFlip’s A.I. SmartFolios. Machine learning analysis buys, sells and holds positions in your portfolios based on market risk. A.I. SmartFolios are the next evolution of personal retirement planning and investing.

Reduce Risk – Grow Wealth

iFlip’s A.I. SmartFolios are designed to reduce your risk in the market and grow your wealth over time. Because the machine learning algorithms are set up for a long-term growth strategy and not a short-term, you can grow your money slowly. Just like Warren Buffett recommended.

Click on the link to see how A.I. beat the market, even during a crash, using automated trading software. Then, hop over to iFlip. Find out how easy it is to open your own account. 

You’ll see how life is easier when iFlip’s A.I. invests for you. On the best stock app android or iOS. And even on your desktop.

At the end of the day, iFlip is the most effective and highly efficient mechanism for the average person to invest in the stock market. Using the algorithmic trading software in iFlip’s A.I. SmartFolios, begin your personal retirement planning and investing today.

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Zero-dollar ($0) commissions are available for self-directed Individual cash or margin brokerage accounts that trade U.S. listed securities via mobile devices and via web interface. To obtain the commission and fee schedule, please see our website at www.iflipinvest.com. Note that certain Flip Investor Inc. Product features listed are currently in development and will be available in the near future. System execution price, speed, response time, liquidity, market information, and account access times are affected by many factors, including market volatility, size and type of order, market conditions, system performance, and other factors. Some of the information provided show hypothetical results which may or may not represent live performance. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns.  Keep in mind that while diversification and the use of algorithms may help manage risk it does not assure a profit, or protect completely against losses, in a down market. There is always the potential of losing money when you invest in securities, or other financial products.  Investors should consider their investment objectives and risks carefully prior to investing.

Past performance is not indicative of future performance. iFlip data results assembled using various Flip algorithms applied to the equities listed on this webpage (if any). Results compiled for each equity and each algorithm assume a 10,000 initial investment beginning on Jan 1st 2005. All iFlip price assumptions are based on the opening price of each day as found in Yahoo finance. Yearly NAV data points compiled by compounding annual returns using standard year over year accounting. S&P500 results are derived using the SPY as a proxy. The data on this webpage is not intended as a solicitation. Always seek professional advice for suitability.

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Doug Adams - COO

Doug Adams has more than 30 years of experience as an executive in the IT industry. He has demonstrated success helping companies grow profitably with high degrees of customer satisfaction. 

He has a passion for developing talent and building high performing teams. Most recently as a Senior VP at FusionStorm, he helped grow the company from $440mm to over $1bb in sales and improve profitability 1500% (15x) over 7 years. Prior to that he was at Oracle for 14 years where he served as a Vice President in their North America Consulting Division. 

He had responsibility for a variety of software and technology practices with a team of over 400 consultants. He has also held leadership positions at IBM and Andersen Consulting (Accenture), and holds a BS degree from Cal Poly, San Luis Obispo in Industrial Engineering.

Ed Sweeney

Ed Sweeny - Board Member

Ed Sweeney is a partner and a founder of RCM Alternatives. Previously, he was a Managing Director of Trading at TD Options, LLC, a subsidiary of TD Securities until 2006. 

He is also a founder of Starboard Specialty Funds, LLC. which is an active fund specializing in private and publicly traded bank equities.
He was also a co-founder of a trading technology firm, Ragnarok Systems, and also worked for O’Connor & Associates and at Swiss Bank Corporation as a director of fixed income trading.
Mr. Sweeney graduated with an M.S. and B.S. in Mechanical Engineering from MIT, has a J.D. from John Marshall Law School and holds a Series 7, 24 and 63 licenses.

Karla Dennis

Karla Dennis - Board Member

As seen in Forbes Magazine, Karla Dennis is an expert tax and business strategist. As an enrolled agent, Karla is licensed to represent taxpayers in all 50 states. She holds a Masters in Taxation and Business Development and is the author of two books, Tax Storm and Against the Odds. 

She has been featured in various media outlets such as, KTLA, Forbes, MSNBC, Yahoo! Finance, and SmartMoney marking her the ultimate tax and business expert.

Thomas Shippee Bio

Thomas Shippee - Consulting Board Member

Thomas P. Shippee is a financial services investor and industry expert. His early years he earned a Bachelor’s degree in Economics at Bates College and an MBA at Pepperdine University.   

For the last 35 years he has served in various positions including CEO of Wells Fargo Financial whereupon he oversaw all US and Canadian consumer and commercial business finance operations from Des Moines, IA.  He currently spends his efforts in the consumer financial services industry counseling and working for small privately held businesses.  

David Bay Bio

David Bay - Consulting Board Member

David is a Kentucky native graduating with a degree in Music Education at University of Kentucky and a Masters degree in Education from Xavier University. His early years were spent excelling as band director leading his group to breaking records, honors and 3 straight years of placing in state wide competitions. 

In 1988 David started a new life of entrepreneurship. Since then his natural ability to lead and passion for growing people has stretched him to employ over a hundred employees and operating several businesses over several industries including real estate, heating oil, farm gas, commercial lubricant, consulting, skilled nursing care, convenience store and restaurant business.  

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Marc Chesley - Consulting Board Member

Marc Chesley is a software industry pioneer with a passion for growing people and companies. He is a recognized innovator and operational leader. As former CTO at Infusionsoft, Marc helped grow the company from startup to over $100mm in revenue. He has led as CEO and President of many fast-growth software companies. 

Marc was recognized as Arizona CIO of the Year by the Phoenix Business Journal and the Arizona Technology Council.  The Society for Information Management awarded him Arizona IT Leader of the Year. He currently works as the COO at Paradox (fast-growing software firm) managing product teams, engineering teams, business development teams and serving as general counsel.

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Kelly Korshak - CTO

Kelly attended Stanford and subsequently the University of Chicago and has a graduate degree in mathematics.  He spent 30+ years on Wall Street, investing over $4 Billion assets for institutional banks and funds including Deutsche Bank, Morgan Stanley, Diamondback Capital, Brevan Howard and Tudor Group. 

His strategy to investing is built around the approach that mathematical algorithms produce superior risk / reward in the stock market.  This algorithmic intelligence (AI) approach led him to retire from Wall Street with his family in Arizona to start up his own company “Flip Investor”.  

His dream is to empower all individuals to grow their wealth through AI investment technology.

Randy Tate

Randy Tate - CEO

Randy spent his earlier years as a successful collegiate athlete and then self-made entrepreneur.  He grew an athletic apparel company to over $5M+ in revenue, then sold it to a publicly traded sporting conglomerate, Sports Chalet. 

For the last 10+ years he has trained thousands of employees and business owners on how to market effectively, grow sales and build sustainable growth in their companies.

His passion for technology led him to one of the fastest growing software companies called Infusionsoft, which peaked with over 150,000 software users.  As the VP of Business Training for customers, he developed and oversaw the expansion of the Elite Business Education curriculum program.

Since then he has led as the co-founder and CEO of iFlip, SAAS Financial Technology Company.  His passion is to empower all individuals to grow their wealth for the future through the use of AI investing technology.