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Tips to Make a Million Dollars

By Edited Nov 13, 2013 3 3

It is seemingly impossible to make millions of dollars. At least that is what a lot of the population thinks. It may seem extremely hard to make a million dollars, but it is far from impossible.

You first need to realize that a million dollars is not worth near as much as it used to be in the past.  A million dollars in the early 1900’s was worth far more than the buying power of a million dollars in today’s world.

One of the most important things to earning a million dollars is to either get a lot of education such as a Masters Degree or to start your own business. Ideally you may choose to do both of these.

Getting your money to work for you to earn more money is vital to you as you work towards earning your first Million Dollars. Many people earn a lot of money through real estate investing. Real Estate has made countless people rich over the years. You may buy Real Estate with homes and apartments and then rent them out or you may choose to buy run-down properties that need fixed-up and then reselling or “flipping” the property for a profit.

Another way a lot of people make money is by starting web businesses. You may choose to start selling products online or maybe starting website. Often the simplest blogs can earn the highest amount of money as long as you have a lot of great content.

Regardless of how you make your money you should realize that as long as you have a plan and work towards that plan you can achieve success.

Instead of buying expensive toys and clothes and wasting money on a lot of other things it may work better if you instead save the money and then reinvest it in other things that can produce you further income. If you own a blog you can buy $500 worth of new articles instead of $500 worth of clothes and then you can have that investment bringing you in additional money each month for the rest of your life.

Instead of trying to buy a brand new car every year you can instead buy a good used car and then drive it until it blows-up. There is a lot of ways you can save money. Instead of wasting your money on unnecessary luxuries live well below your means. Make people think you are poor while you continually take the money you save and invest it into different businesses. There may be people who think they are doing better than you can “cooler” than you because they bought a brand new car but they may be struggling from paycheck to paycheck while you have a over $250,000.00 invested in different business that bring you in more in a month in passive income then your neighbors earn in an entire year.

How many times have we read about famous sports players who earned millions and millions of dollars over their career yet they wind up filing for bankruptcy protection? It is very common. These sports stars wasted most of their money and then when it quit coming in they had no way of replenishing it. On the other hand there are very smart sports players who invest their money very wisely.

Magic Johnson returned from the NBA but has since invested in numerous businesses including a chain of movie theatres. Magic Johnson looked for income opportunities where other traditional businessmen would overlook or shy away from such as traditionally black neighborhoods.  Magic Johnson reinvested and diversified his investments and has since made much more money from his businesses then he ever did laying professional basketball, and Magic Johnson made a lot of money with his basketball.

You do not need a lot of money to start on your path to earning a million dollars. It sure can help, but most of us will start with very little money. It does not matter how much we start with, but how we handle out money and reinvest your money. If we have a strong work ethic and make smart investments with the money we earn then the further opportunities will open themselves up and you soon find that you may be on the fast track to earning a million dollars or more.

Earning a million dollars is something that anyone can do, but it takes effort. There have been numerous people who have become millionaires who started out with nothing. Quit making excuses and start working towards you goal of earning a million dollars.

It is imperative that you quit making excuses. If you keep whining and making excuses then you will never achieve success by becoming a millionaire. Millionaires usually do not whine in the business world, except for Donald Trump. They do however work hard and create a team around themselves who help to support and expand their businesses.

Once you begin to expand and you begin to hire employees then hire people who are smarter than you are and or have a different skill set. Many people hire employees that wither agree with them or will be “Yes Men” who say yes and does what the boss wants no matter what. You need people to obey you in your business but it is also vital that your employees feel free to speak up if they think there is a problem or a better way of achieving success in a particular endeavor you guys are looking into or a part of. Everybody on your team should feel like they have the ability speak up and throw out logical suggestions to help the business grow.

Everybody is in a different place in their life but it is vital that you begin right now. Starting right this minute begin reading and planning your route to earning a million dollars or more. Earning a million dollars often starts with a lot of baby steps. Take your baby steps and begin working towards a million dollars right now.



Dec 8, 2012 3:17pm
Hi--This is a very smart article and something I should have read years ago. Lety me tell you about the greatest financial mistake Iever made--and trust me, I have made plenty of them--As a young just 21, I put together $2,000 for a trip to Vegas. At the airport in Salt Lake City, I went to the bar and sat next to two travelers. We began chatting and I happen to mention I was going to Vegas to "break the house." One of the men said to me, we have a new business going and why don't you invest i in it. I asked what the name of the busines ws--not that I was going to invet but I was being polite.The man next to me answered my question and said, "Apple." I grinned thinking what a dum name for a company. I flew off to Vegas and came home broke. Apple ended up doing okay. 2 thumbs up from me
Jan 13, 2013 3:03pm
It's soo true! A Million Bucks is really not that much any more ... you could put that amount into some ING Exchange Traded Funds (ETF) and receive about 10% to 12% in dividends ... that's about $110k income a year. Now, if you were to make that kind of investment through a margin account, the broker may lend you .5 Million at 3% which would give you an extra $55k on income less the 3% interest, or $15k for a clear $40k ... add that to your original income of $110 and you now have $150k a year from that Million. With that kind of income you should be able to pay off the .5 Million margin loan in about 5 years ...

I have made more money with Real Estate Investment Trust units than with actual property. One deal worked out very well, where I bought a whole bunch of these units between $10 and $12 Bucks, they paid a dividend of about 12% a year for the 8 years I had them, and at the end they were taken over and we got bought out at $30 per unit ... but the truth is, not all my deals brought in these kinds of results.

As long as you know how to work with investments and have access to low interest loans, making money with financial instruments like stocks, bonds, options, futures and commodities can be very profitable when you know how to cover your risk and let the money work for you like a pro ...
Apr 19, 2013 4:41pm
I have a doctorate degree in psychology. I have found it easier to earn a million dollars, but I had squandered most of it. I finally started thinking the way you suggested in your article about living below my means. Things are getting better and I am happier in doing so.
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