I’m a Self-Made Millionaire: I Sacrificed These Things To Become Wealthy

damircudic / Getty Images

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

20 Years
Helping You Live Richer

Reviewed
by Experts

Trusted by
Millions of Readers

Becoming a self-made millionaire is not the type of wealth that happens overnight, like winning a lottery jackpot or inheriting a family member’s millions. Instead this particular “road to riches” requires hard work, dedication and plenty of sacrifices. For example, on the way to achieving millionaire status, you’ll likely have to give up your leisure time and also consistently prioritize your needs over your wants. Unfortunately, your relationships might also suffer. 

To find out what it really takes, take a look at the sacrifices these self-made millionaires made to become wealthy. Their experiences can offer valuable insights and inspiration, showing what it takes to achieve financial success through determination, smart decision-making and a willingness to take on difficult personal challenges.

Giving Up a Decade of Time

Dedicating every single waking moment over years — even a decade — is not unheard of when trying to build large amounts of wealth. 

“A significant portion of my life, essentially my whole 30s, was dedicated to GreenPal,” said Gene Caballero, co-founder of GreenPal. “While others were exploring the world, forging deep connections or taking career breaks, I was deeply engrossed in building our venture.”

Putting Friendships and Family on the Back Burner

Unfortunately, it’s difficult, if not impossible, to have it all when you’re trying to become a self-made millionaire, and your relationships will likely suffer. 

“In the pursuit of this dream, personal relationships — both friendships and family ties — often took a back seat,” Caballero said. “I missed out on countless birthdays, anniversaries and weekend get-togethers. Not being there for some of life’s big moments for my loved ones was a constant tug at my heartstrings.”

Neglecting Health and Wellness

When pursuing millionaire status, it’s also easy to lose track of time and neglect your self-care. 

“In the flurry of business demands,” Caballero said, “I always overlooked my health. Skipping workouts, opting for fast food instead of a balanced meal or depriving myself of sleep became common occurrences. Being prescribed pills to wake up and go to sleep is not a sustainable practice.”

Sleeping in the Car

On the path to riches, forgoing familiar comforts is one way to make it there faster. 

Dan Chan, an internationally renowned, award-winning magician and mind-reader who has performed for many of the world’s large corporations, said, “I remember vividly the days of sleeping in my car on trips to L.A. and when doing shows that were really far away, doing whatever it took. I put a mattress in my car so I could save on hotel costs.”

Living on Nothing

Operating on a bare-bones budget is another sacrifice to make it to the big time. 

“I left my home and family in Detroit to chase a tech dream in the bigger pond of L.A.,” said Brenda Christensen, CEO at Stellar Public Relations, Inc. “Arriving with almost nothing, I subsisted on brownies and spent nights on a pool float for months. Despite these challenges, I founded an Inc. 500 software company in the ’90s.” 

Risking It All

Making a leap of faith and risking everything financially sometimes pays off handsomely. 

“The layer of comfort and stability provided by a regular income from a 9-to-5 job is something I had to sacrifice to take a great leap of faith in starting my own business,” said Stephen Keighery, CEO and founder of Home Buyer Louisiana. “Job security is already a good opportunity, especially if you just graduated college. That promise of income is bright and will tempt anyone who wants to go ahead and earn right off schooling.”

Keighery said when he was thinking about starting his own business, leaving his high-paying job that offered benefits and career opportunities was challenging. 

“After all, how could you guarantee that your start-up will take off and you won’t regret leaving an excellent job?” he asked. “But it all worked out in the end.”

Share This Article: