2007-11-17 13:10:09 · 4 answers · asked by Anonymous in Business & Finance ➔ Small Business
put $100 into a bank CD and just keep rolling it over. it will reach a million.
create something and then sell it.
the best I saw was yrs ago. looked for a Palm program that acted like a checkbook. most at the stores were 19.95. so I looked online. found one a guy made real DOS looking but it was for 99 cents. figured for that price it was worth the gamble.
well after I paid my 99 cents and did the download, it kicked me to the typical thank you page, but showed me which download number I was. It was over a million.
99 cents at at time... click click click click non stop.
2007-11-17 13:47:06 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Learn about compounding, it is the best thing that can happen to money.
Live below your means by a large margin and invest the money you don't spend. If you were to save $1000 each year and get 6% return on your investments you would have 40,000 in 20 years. Save 5K and you would have 200,000 but that 20th year the interest would be over 11,000 that you didn't have to earn with sweat. And after 30 years it would be worth 425,000 and giving you almost 24K.
In 30 years you would have to consistently spend less than you earn but in a few years 5K wouldn't seem like so big a deal and you could enjoy looking at your mounting wealth.
Wealth is great you have real freedom it is much better than a faster car or bigger house knowing if you are disabled or have a need you have the money.
Go for it let your money grow.
2007-11-17 21:13:28 · answer #2 · answered by shipwreck 7 · 0⤊ 0⤋
To have compounding interest of at least 10% is needed however it will take you at least 20 to 30 years and that house you want to buy will cost 10 times more. Also inflation and taxes will bite a huge chunk from your investment.
The most secure, inflation resistant and free of income tax greed to become a millionaire is to be an entrepreneur and as such learn to use leverage and Metcalf's Law to gain momentum in your earnings. All millioneirs do.
Also bear in mind that no matter which multi-millionaire you look at these days they all conduct their business globally, not locally anymore hence their earnings are not dependent upon their respective country economy. Economy is global, take advantage of it.
2007-11-17 23:44:02 · answer #3 · answered by StanTheMan 6 · 0⤊ 0⤋
just have a million dollars by doing anything.
take mine.
2007-11-19 01:36:34 · answer #4 · answered by Ćĥèéŗ-FΰĿ ĴöŁŁŸ 4 · 0⤊ 0⤋