how to be millionaire?

Answer 1

make a lot of money.....

Answer 2

53% of all millionaires became so through property or real estate.
I bought a house in 1989 for $140,000 today it's worth
$440,000.
I know people who bought houses for $300,000 ten years
ago that are now worth $800,000.
Avoid renting a house or an apartment, buy a house or condo as soon as you can qualify.
Mortgage interest is not taxable.

It is nearly impossible to become a millionaire working for some one else. Unless you are a doctor or lawyer.

Start your own business.

Invest as much money as you can in municipal bonds.
They are safer than the stock market and tax free.

Don't buy an expensive car until you are a millionaire.
Don't go on an expensive vacation until you are a millionaire.
Don't do anything expensive until you are a millionaire.
Scrimp and save, and invest every penny instead.
Shop at Wal-Mart not Robinson's-May.
Eat BLT's instead of lobster.

Learn all the tax laws so you can keep as much of your money as possible.

Work two jobs while you can.

Get a good education that qualifies you for a higher paying job.

Read the Wall Street Journal.

Watch money programs on TV and Radio.

Avoid Las Vegas and gambling.

Learn all about 401k, IRA's and all other retirement plans.

Seek out investment advisers, ask them all your questions.

P.S.
90 million investors lost $7 trillion dollars in the U.S. stock market in the year 2000! An average loss of $78,000 dollars each.
It is easier to lose money in the stock market than make money.


Reply to Mike T suggestion above:

"$215 per month invested at 9% for 40 years=$1,014,032"

1. No one is going to give you anywhere near 9% interest.

2. $215 * 40 * 12 = $103,200 you invested.
$1,014,032 - $103,200 = $910,832 earned money that is now taxable at 50% or $455,000 you pay. The result is you are not a millionaire! Capital gains tax will break you.

Answer 3

Actually, to be a millionaire is not such a big deal. If you get a decent job, and watch your money carefully, you are almost guaranteed to be a millionaire. In fact, the percent of millionaires in America is closing in on 20% (give or take). The big challenge is to become a multi millionaire(maybe 5 million?). Still, if you want to be a millionaire-invest, and watch your money carefully. Look for the best rates to invest your money. Buy an apartment and rent it. Take chances in the stocks. And - probably most importantly - don't work in a fast food restaurant instead of going to college.
Thx for reading, BP

Answer 4

By the time you are 21, put $500 per month in a high interest, secured savings program. You'll be MORE than a millionaire by the time you retire.

Answer 5

join lakshmi narayan,s steel industry or become an incometax officer or a ca or become a man who have eye like dog,s eye on money or start saving money from right now. 100 rs per day in this way; i cant say anithing abot becoming a millionAIRE but i assure u , u can be a trillionaire....!

MY BEST WISHESS TO U !

Answer 6

Not knowing your age makes this question more difficult to respond to, but at any age participate in the magic of compounding returns.

Future value = (periodic savings amount)*((1 + r)^n -1)/r

Where n = number of periods

r = periodic return on investment

Example if you are saving $525 each month at 6% annual rate of return, compounded monthly, at the end of 40 years you will have $1,045,553.

Save and invest wisely.
.

Answer 7

Learn financial lessons. The rich buy assets and the middle-class buys liabilities which they think are assets and the poor buy liabilities. An asset is simply anything which puts money into your pocket while a liability takes money out of your pocket.

I can't tell you any more because a Magician never tells his secrets lol.

Try and discover the world of money, it cannot simply just be given to you.

Answer 8

work a job that pay's 2100 USD a month. Pay for rent, electric, food, and gas. and NOTHING else. save your money for about 40 years from the age of 17. At the age of about 57 with interest you will have 1 million dollars. congrats

Answer 9

add six zero's or more after 1 depends upon you want to be millionaire or multimillionaire

Answer 10

first of you must stack more than you can ever spend and than you will be a millionaire.

Answer 11

"The fastest and easiest way to become a millionaire, is to be a billionaire who buys an airline."

Richard Branson, Billionaire who started Virgin Airlines