Many ways to become a millionaire

Some ways I know some people become a millionaire is by being born in a rich family and inherit the family business. Another way is to win the lottery, and there are others who get to marry a wealthy spouse.

When I was working in the corporate world, most of the middle management don’t get paid enough to become a millionaire. Say you make $5,000 per month which to me is decent income; it will take you about 17 years to reach a million dollars. But that is assuming we don’t use any of it! Now if you are very discipline and save about $1200 per month inclusive of interest it will take you 69.5 years to save up to a millionaire dollar! The point is based on the above constants and assuming nothing happens to you or your job security or salary changes, it is theoretically difficult to become a millionaire.

The ideal way I believe is to have your own business. Yes, you may still have to keep your day job. But start looking for something you are interested that you can invest some money and time on. I did say money because you will most likely not find anything that does not require any form of investment.

No one can tell you to go into this business or that. You have to start to give yourself and opportunity to what kind of business interest you. It may be as simple as baking cookies to selling mobile phones on the internet. Most importantly pick one that has a good balance of profitability and passion. What I mean by passion is that there will always be ups and downs in any business venture. Without a passion you will quite too early before enjoy the fruits of you labor.