How-to make $10,000,000 in 10 days
You are probably serious about your life that’s why you are here, else you wouldn’t. But make millions of dollars is not that badass to get online this days, just the way you click on the link that brought you here is the same way people are anxious and eager to but your niche, I mean to give you the million you want.
Becoming a millionaire is the dream of a lot of people. While ten million dollars is a lot of money, earning it isn’t as difficult as you might think. However, making your first million dollars is definitely going to be the toughest task for you. As money makes money, once you have your first million, you will find the journey to your next million to be a lot easier. Once you make your first million dollars that money starts doing your work for you. In this post, we will talk about how you can make your first million dollars. Let’s get started.
How to Make Your First Million Dollars
Make the right choise
There are a few decisions that you must make at a comparatively young age, and they can go a long way towards helping you become a millionaire.
At least at the start of your journey to creating a million dollars, the salary you earn from your job goes to form up the majority of your wealth. Because you’re getting to spend a minimum of a couple of decades working, you would like to major in a field which will earn you good money.
A college education isn’t the sole path to wealth but getting one can certainly make the way smoother. Those with a four-year degree earn at least 66% more than those with only a high school diploma.
Your chances of being unemployed are significantly reduced by having a four-year degree as well. The unemployment rate for those with a high school diploma is 5.4%, 2.8% for those with a four-year degree and just 1.7% for those with a doctorate.
A college degree is a good investment and making the right choice can make a big difference in how fast you accumulate your first million.
This is the one of the most important things on this list. If you would like to be a millionaire, this is often how you are going to do it.
There is no substitute for time when it involves investing. The earlier you begin, the faster you’ll make a million dollars.
“On average, millionaires invest 20% of their household income annually. Their wealth isn’t measured by the quantity they create annually, but by how they’ve saved and invested over time,” writes Ramit Sethi in his New York Times bestseller, “I Will Teach You To Be Rich.”
In other words, a project manager could earn $50,000 per annum and be richer than a doctor earning $250,000 per annum — if the project manager builds a higher net worth by saving and investing more over time.
Invest in Real Estate
Real estate is surely a real deal and a great source of passive income, and it is. Needless to say, it’s a great tool to help propel you to your first million. I will write more on this on how you can actually make turns of money even if you don’t have a feet of plot yourself.
Be Smart with Debt
It’s almost impossible to be 100% debt free in life. Sometimes, it’s impossible to avoid debt.
There is good debt and bad debt. A student loan which can help you get a degree which in turn can help you land a high paying job, is an example of a good debt. Bad debt is buying stuff on credit cards you don’t need.
Good debt is essentially an investment, a bit like a stock or bond. And because you’re spreading the payments out over many months or years, you’ll buy the item you’re financing immediately rather than having to attend and save enough money to buy it all at once.
On top of that, good debt tends to hold a comparatively low-interest rate. But good or bad, we would like to pay off debt smartly. Even refinancing for an interest rate just 1% lower than your current rate can save you thousands of naira over the term of the loan.
Should you wait to invest until you’ve paid off your current loan debt? No! Remember, there’s no substitute for time when it involves investing.
Mind Your Expenses
Spending much don’t really guarantee you or ranked you high above your peers, because the race is to be seen rich and wealthy, it is about been able to fix yourself when need be, patch you leaked when you suppose. These are your goal not to show-off, while you mind the way you spend contribute to making your million is that knowing how catch fish in the pool is different from knowing how to keep is alive. No matter the amount given to a person, if you don’t know how to manage your income, you might discover that you are still looping in circle call “Rate Race”, and this is not what you want.
Get the Right Salary/Sell Something Over n Over Again Repeatedly
Whether it’s from your regular job or a side hustle, if you want to make a million dollars, you need to get more money.
Are you being paid what you’re worth? Do you even know how much you should be making? Most employees don’t get the raise that they deserve simply because they don’t ask for it.
You can determine what people in similar positions in your area are making through various sites online. You can as well get to know how your competitors charge their client for a particular job same as yours. This gives you a start line when it involves negotiating a raise.
Before you demand a raise, compile an inventory of the various reasons why you deserve one. What have you achieved over the past year and how has it helped your boss or the company? What are the specialty about your product and services? If you are the end user or consumer what will you look out for?
While getting a raise is great, it might not mean much more money in your pocket. The average raise is just 3%. If you really want to earn more money, you should be changing jobs, and often changing your methods of business approach.
Those who change the packages of their products and statement of their business around their marketing techniques. While those who change jobs every two years, earn an average of 50% more over their careers than those who stay in the same job for longer.
If you do get a new job offer, don’t just accept whatever salary you’re offered like a supplicant. Again, know what others in similar positions near you’re earning and be prepared to barter for extra money and better perks.
Earn Some Extra Cash
Most folks aren’t on the limit when it involves having the time to form extra money outside of our day jobs. We gladly spend five-six hours a day watching TV, why can’t we spend a few hours earning some extra money?
And if you want to be a millionaire, you’re going to have to.
Absolutely everyone should have multiple income streams. There are times people can lose their jobs because of office politics and no real fault of their own. Even if you have a hearty emergency fund, it’s nerve-racking not to have any money coming in. An alternative income source always helps in such scenarios.
You can aim high and look to start your own business while working full time but that admittedly takes time, time to work on it and time before it starts to make any money. You can cover your weekly grocery bills by doing simple things like driving a cab, affiliating, buying and selling while at home or babysitting on weekends.
Don’t Upgrade with Every Raise
What does one do once you get a raise or a bonus or your tax refund check? Do you blow it? If you continuously upgrade your belongings and your lifestyle every time you come into more money, you will never be a millionaire.
One common trait of wealthy people (and there’s a really great difference between being rich and being wealthy) is that they live below their means. In other words, they spend less than they earn. So next time you get a raise, don’t buy the latest version of a phone even though your current phone works just fine.
There are tons of great apps which will assist you economize your shopping, whether online or from a brick and mortar store. Nearly 80% of Nigerians shop online and the majority cite cost as a more significant reason than convenience. If it’s already cheaper to shop online, why not make it even less expensive? Always look for cashback and discount offers when shopping online. There is always something going on.
Try to Live in Places with a Low Cost of Living
Living in a big city is fun, but you don’t need to live in Lagos, Port Harcourt, Abuja, Kano, Ibadan etc. to have a great life.
When you’re looking for work, don’t discount smaller, “second-tier” cities. And don’t be dazzled by a significant salary offer. For example, if you live and work in Abuja, you’re just scraping by on N750,000 a year unless you reside with a roommate or two (or three or four), but in places like Lugbe, Gwagwalada, and Mararaba, you’ll live like royalty on that kind of money. And guess what, you’ll probably even be able to save a lot of your salary on top of that.
Before you start filling out your job applications, list out the cities you would like to work and live in. Next, do some research to see what someone in your job, with your experience level, is earning in each of those cities.
And finally, plug those numbers into a cost of living calculator and pick the top three cities with the best results.
Now you can start applying for jobs in those cities. A lot of people want to be in a top tier city and a city with a lot of work in their given industry, but if you want to make your first million dollars quickly, your cost of living becomes a very important factor.
Making millions in Dollars started from one question here
What do you sell?
If you are not selling then you are buying, in whatever case you actually spending money either way. To earn more means to sell more, to have less means you spend more.
So the best way to have what you want is working for it, don’t waste your time googling questions “How-to make $10,000,000 in 10 seconds” it wouldn’t work.
Make money by spending something, either you spend your time, money, properties at any junction you must spend something to get something.
Spend at least 10-15 minutes with your pen to write down your strengths and your passion because those are the first two tools you need to get started. Once you discover it, also write what methods do you think is best for you to achieve those things you enlisted. Now write which of those tools listed do you have now to start NOW! Else you are just wasting time.
You might want to consult a professional in getting to know more just incase you get stuck in the middle.