Greg S
 |
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. |
|
zocko
|
Invent something everybody needs.
inherit it. win lotto.
regular savings. 401K etc.
Start with a small regular savings and increase it whenever your salary increases. If you get a $1000 raise, then spend half and save half.
It's not how much you make , it's how much you keep that counts. |
|
Old Man of Coniston!.
 |
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!. |
|
stormwarnfm
|
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. |
|
Woody Black
|
When I figure out a way I'll let you know. |
|
blooserzberry
 |
get working!! |
|
Sassanak - Debtproof
|
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. |
|
Pengy
 |
Get rid of the I need this, or better I need this now mentality, work, and spend less than you earn, save, then invest if you cannot pay cash do not buy it. Be frugal now, so you can live the good life later. |
|
LAURIE S
|
go on a quiz show or dragons den |
|
rebel_devil2003
 |
good social mobility |
|
The Teacher
 |
Win the lotto, rob a bank, marry a millionaire or work very hard. |
|
Kat F
|
I think we're all asking that question. If I knew the answer I would probably be doing something fun instead of answering questions on yahoo |
|
Life
|
It's all about working hard, who you know, and your strive. |
|
richard t
|
Study hard............go to a good school..get an MBA in finance.get a law degree in business...............study hard.work hard and work smart |
|
Hold my paw please
|
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 |
|
harryhotun
|
Market an original idea which will have a worldwide market. |
|
resignedtolife
|
What! You're asking us! What makes you think we'd be sitting doing this if we were millionaires? |
|
Brokєn Gℓαss 73 ..x ♥♫
|
Eer... win the lottery! |
|
proc
|
Save twice as much next week as you did this. and continue to do so until you achieve your goal. ...simple...... unless you did not save anything this week . then your screwed. |
|
Akbar B
|
By having a million in your bank account. |
|
sxy_kitty3
|
but a lottery ticket every week and keep your fingers crossed!!!
or
work hard!!! x |
|
news hound
|
be a professional foot ball player |
|
Darth Scorn
|
Acquire a million dollars. |
|
senorita
|
play poker, seriously, my boyfriend plays big tournaments and hes really good at it and he wins lots of money, poker! |
|
Pleasant Peter Perkins
|
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. |
|
gkb
|
To start with, you have to be a multi-millionaire! becoming a millionaire would be much easire then. |
|
northville07
|
play lotto
or
work hard |
|
The Professor
|
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. |
|
♥
|
find a blank check, genius! |
|
| |
|
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
