What is your age? If you are pretty young then millionaire is not a hard thing to do. The secret is constant savings. Especially in a retirement account. It is not fancy and it does not happen overnight, but it is a safe way to go about it. I would say, start putting something away even if you find another course of action.
Now then. Other options. Lets limit it to legal options while we are at it. Sometimes, the arts pay off big. Write a book or screenplay everyone loves and cash in. That is a mostly a miss department even if you have lots of talent. Same goes for music. Lots of money to be made, but you have to have talent and you have to have a bit of luck as well.
Creating a new fad. If you can create something cheap and stupid yet loved by the world, then you are in the money. Lets look at the math on that. Lets say it is cheap and can be sold at an amount that brings you a $5 profit per unit. Sell 200,000 units and you are gold. The rough part is coming up with something that will sell like that. The public is pretty fickle about stuff like that. Sometimes, by the time you realize you have something worthwhile, the craze passes.
Finally, one note. Think about this. Lets say you find a stock that goes up by 3% in one day. You buy in and sell and now you have made 3%. You start with $1000 and end up with $1030. Thirty bucks. Time to live the high life. But the next day you take all of that money and put it into another stock that goes up 3%. Now you have $1060.90. You keep this up for a year. Always buying a stock or stock option and it always goes up 3%. After one year of this you will have around 1.2 million dollars.
Of course, this is if you are not paying taxes or transaction fees. Plus, the odds of finding a 3% gainer every day is worse than playing the lottery. The math is horrible. On the surface this sounds like a sure fire winner but once check the math out on it you realize that the odds are so against it. If you could keep up that pace, then in five years you would have all of the money in the world.
The sad answer is, there is not a guaranteed way to become a millionaire quickly. A lot of people will tell you otherwise if you buy their book for $19.99 (By the way, if 50,000 people buy the book then that guy is a millionaire, more or less). You can try your luck at the lottery, but if you save that money you would have bought tickets with you will end up with more in the future.
2006-11-06 07:57:19
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answer #1
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answered by A.Mercer 7
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Get a brilliant idea and work hard to make it work.
Or lie, steal and cheat. That's not such a good option, but obviously it works for f**k-ups who fail at doing it the good way.
I want to tell you something though. Money won't buy you happiness. You'll feel more free than ever though if you stop caring about material possessions. You learn to really enjoy life. Sounds crazy I guess, that's what I used to think too until I tried it, but I just wanted to share that with you.
2006-11-06 22:08:16
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answer #2
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answered by undir 7
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2016-12-28 14:36:54
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answer #3
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answered by jamila 3
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go on bankofamerica.com or another bank they have calculators that tell you how much to save each day in order to be a millionaire in a set amount of years....
if you cant save then win the lottery
2006-11-06 08:38:10
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answer #4
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answered by GAgirl 4
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Work hard and save your money
2006-11-06 14:06:41
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answer #5
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answered by Anonymous
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start with thousands, save and again earn one day u will become millionaire.
2006-11-06 20:08:55
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answer #6
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answered by ? 6
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buy who wants to be a millionare board game you can cheat
2006-11-06 21:16:46
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answer #7
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answered by Anonymous
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I'd love to but I don't wanna be in no scam.
2006-11-06 07:33:06
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answer #8
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answered by fruit salad 6
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keep dreaming!
2006-11-06 12:15:59
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answer #9
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answered by Anonymous
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