How do i become a millionaire?

Answer 1

Create as many avenue's of income as possible.
Keep your day job, invest the max in a 401K
Save at least 30% of your income. Once you have at least
6 months of pre-tax income in savings move it over to a
high-interest Money Market Account. Save another $5,000
and open a brokerage account with someone like Merrill Lynch, Charles Schwab etc. Get a portfolio going that is heavy in stocks, with a few mutual funds and maybe one government bond. After you get about $30,000 of liquid money start to purchase real estate rent out the properties for at least 3 years each and wait for the values of the homes to be ridiculous even for you. Once you get $150,000 liquid you can start investing in commercial real estate treat it the same way you would with the residential real estate. At this point you will be making money from the following avenues.
1) Income
2) Interest from Money Market Account
3) Dividends from Bonds
4) Successful trades of stocks and funds
5) Residential Real Estate
6) Commercial Real Estate

So at this point you could start look into being a venture capitalist, get into buying and selling small business's
or whatever and your net assetts will be well over a million dollars, plus you'll still be making money with that 401k to go towards your retirement.

There's your map, good luck.

Answer 2

My Dad told me when I was 16 years old that if I devoted every waking moment to making money. Forget about friends or girls or music or socialising...just money and nothing else...He would guarantee I would be a millionaire by the time I was 21.

I didn't give up any of those things...but I still think he might well have been right.

Answer 3

Get off here for a start. Set up a viable business that will expand in at least two years. Look for ways of developing your invention. Treble your working hours. Listen to all good advice but not necessarily take it in. be ruthless with your competitors. establish your market. And if all else fails, try singing on X-Factor. Or take your product to the Dragons Den!.

Answer 4

It is always people who "try" to become rich that don't, if you were going to be a millionaire you would not be posting this question on yahoo

Answer 5

There is a new invention that you obviously haven't heard about. It enables you to earn a steady income on a regular basis.

It's called a J-O-B! I suggest you get one, don't spend more than you make, save money religiously and eventually you might be a millionaire.

Answer 6

Invest in a 401k at your employer as soon as you are able to start contributing.

Investing, I think it's 10% in an employer matched 401k can get you to retire a millionaire if you stay at the same job from start to retirement.

Answer 7

Win the lotto, rob a bank, marry a millionaire or work very hard.

Answer 8

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Answer 9

Just generate £1,369.87 per day for a year then convert into US dollars. Dollar millionaire.

How to do that - well you could try selling stuff for high markup if you market it correctly. e.g. one of the craziest markups is to be found in gardening - the difference between a seed and a cultivated seedling in spring is huge. You do the math.

Answer 10

What! You're asking us! What makes you think we'd be sitting doing this if we were millionaires?