Locate the company’s website, and look at reviews, products that will be coming out, and their growth charts over the years. Then choose a form of investment, such as through a bank’s investment/trading tool, through a financial/investment adviser or even directly using online trading sites. Do plenty of research first.
This story has been beat to a pulp, but it’s so ridiculous it’s worth noting. A 21-year-old British kid created a home page and sold 1MM pixels each for $1. Furthermore, he had a sob story to warm the public’s heart: trying to pay his way through college.
Street performing, also called “busking,” can quickly produce a nice pile of currency if you’re in the right location. What if you have no performance skills? Put on that outfit you wore for Halloween, and see my post on how to make money dressing up in a funny costume.
Do not fall into this category of lies and deceit. Major search engine sites like Google and Bing will not allow your website to rank, this means you will eventually lose your good standing and therefore not able to make any money.
Because of this mentality, after graduating from college, I began studying for law school, assuming that was the logical choice for a history major. However, the more and more I heard from existing lawyers, the more that path began to scare the hell out of me. Eighty-hour work weeks, two weeks of vacation, never seeing my family — that was the path I was headed down.
I appreciate your kind words and I’m pleased my article on My Millionaire Mentor was useful. Part of me still wishes it was as easy to make millions as these scams promise, but that just isn’t reality.
They continue to hold on to their customer-centric messaging by staying true to their sense of purpose, emphasizing benefits of their products and reinforcing the message https://youtu.be/TwWDKpiGQww they help their clients be better at what they love to do.
Benjamin, I plan on using my blog to help keep me on track as well. In fact, I wanted to name my site “Million Dollar Journey,” but that domain was purchased a few months before I started blogging. I’m happy that Frugal Trader ended up with it though, because he has a great site! 🙂
Look at what people need, not necessarily at what you want when deciding on a business. There will always be things people need and they need them to be done well. Things like garbage disposal, energy creation, providing products to the health and dying industries, etc. In addition, the certainty of customers should not be overlooked lightly. Choose a business that provides what people really need and be prepared to put in the effort to make your products and services either the best, the most price efficient or unique.
Also off-putting: if revenues are heavily dependent on one or two key customers. “Instead of selling lots of stuff to a few people, you’re better off selling one thing to a lot of people,” Warrillow says.
10% or 20% savings aren’t possible: I disagree. I know happy families with kids that live with no debt, feed the family, get to work, and have a roof over their heads with only one working spouse earning less than $50k/year. Look to your large expenses first – Large house? New car every 2 or 3 years? Expensive out-of-state schools similar to in-state alternatives?
I launched my own online marketing agency in 2010, but I didn’t launch a real online product until a few months ago (Millennial Money Course). My co-creator Matt and I had a phenomenal 5 figure launch the first few days (and we launched on a holiday weekend because we wanted to control the sign ups). Putting together the course was an insane amount of work, but the best thing about creating a digital product is that you only have to create it once and then you can keep selling it. There are some people, like my fellow personal finance blogger Michelle, who absolutely kills it selling online courses – she makes over $100,000 a month on her course! Insane.
Okay, this is the first way to be a millionaire while avoiding the headlines. Many high paid professionals end up with significant wealth built up. Of course, they get beaten up at work daily as they climb the corporate ladder and then pay obscene amounts of government taxes afterward, but hey, nothing is going to stop you from becoming a millionaire right?
At this spread, you should be earning at least 4% per year on your $10 billion of capital, or $400 million. Sure, there’s some risk that the Fed will grow a backbone and raise short rates, but there’s not much risk. (They have an economy to fix and banks to secretly recapitalize). And in any event, if the Fed raises short rates, making your $1 billion will just take a bit longer. (And if they REALLY raise rates, causing you to actually lose money, it will be someone else’s problem.)