What's the secret formula of becoming a millionaire?

Answer 1

find a fund that pays 10 per cent interest or more... have the minimum money required for the initial investment(this usually is 10,000) and make monthly deposits of 100 dollars or more per month and you'll be a millionaire in 25 to 30 years...if the market holds and you can make those monthly investments.

Answer 2

It's really no secret. The issue is that most millionaires just happen to do what 95+% of the other people don't want to.

You can save and invest and get there. By starting at a young age, you can get there by slowly building wealth.

Other ways to get there include generating passive income flows. This is a very popular way.

Though as popular as that is, most millionaires have made their money in real estate.

The long and short of it is there's a LOT of ways to get there, the secret, is that you need to start and get educated. You don't know what you don't know until someone tells you.

Some great books (very very widely available new and used) to start with include
Rich Dad, Poor Dad by Robert Kiyosaki
Secrets of the Millionaire Mind by T. Harv Eker

Read with an open mind and you'll be able to see your next steps more clearly.

Let me know if you have any questions.

Good luck!

Answer 3

RE:
What's the secret formula of becoming a millionaire?

Answer 4

There is really no secret formula. Begin saving and investing when you get your first job, say at age 22 but you could begin much younger. Save and invest $4000 a year. Expect to earn about 10% annually on your investments. Use a Roth IRA account so your earnings will be tax free. In 34 years you will have $1,000,000.

Answer 5

Penny stocks are loosely categorized companies with share prices of below $5 and with market caps of under $200 million. They are sometimes referred to as "the slot machines of the equity market" because of the money involved. There may be a good place for penny stocks in the portfolio of an experienced, advanced investor, however, if you follow this guide you will learn the most efficient strategies https://tr.im/sfehg

Answer 6

Penny stocks are loosely categorized companies with share prices of below $5 and with market caps of under $200 million. They are sometimes referred to as "the slot machines of the equity market" because of the money involved. There may be a good place for penny stocks in the portfolio of an experienced, advanced investor, however, if you follow this guide you will learn the most efficient strategies https://tr.im/bYnyy

Answer 7

In binary options you will have the possibility to predict the movement of various assets such as stocks, currency pairs, commodities and indices. Learn how you can make money trading binary options https://tinyurl.im/aH4vi An option has only two outcomes (hence the name "binary" options). This is because the value of an asset can only go up or down during a given time frame. Your task will be to predict if the value of an asset with either go up or down during a certain amount of time.

Answer 8

If I told you the secret formula, everyone here would be able to read it & it would no longer be secret. Therefore, I'm not going to tell you.

Answer 9

It takes money to make money. If it was easy to be rich, everyone would be rich. Their really is no secret formula. Theirs alot of gimicks and schemes to get rich but that is all they are.
There are only three ways to actually get rich. One is to work hard and invest the hundreds of thousands you already have. The second is to invent something that everyone needs and properly market it. The third is to win the lottery. Peace.

Answer 10

Save,Save, and Save
spending less than you make
Learn how to invest properly
Start your 401K, Roth IRA in early age as soon as possible
I am working on it, I will be there in late 40s

Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.

http://www.pathtoinvesting.org/index_fla...
http://www.stockcharts.com
http://www.streettalklive.com section university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:

fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy

technical analysis==(chart+indicator)>> when to buy

Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live

At the age of 32. my 401k is amassed 76,000.00 and 30000.00 in taxble account. by follow simple rule