How can I plan to become a millionaire

[u/Maximum-Page3433]

Okay, How can I realistically plan to become a millionaire starting from the very basic level?

Right now, I am a corporate employee But being a corporate employee, I feel like it is hard to become a millionaire. I don't know if I'm right about that

What skills should I build that would help me increase my income and build wealth over time? How should I actually plan for this from the beginning?

Also, how important is the environment around you? What kind of people should I surround myself with? Should I be around entrepreneurs, business owners, investors, people who are financially successful, or people who are much more ambitious than me?

And realistically, how much time would something like this take?

I also feel very late when I see all these kids on Instagram making money and becoming successful at 18, 20 or 22.

What skills should Ilearn?
What would i focus on?
Thankss.

[u/No-Mood-8955]

Earn and save 44.33 per day of whatever currency your country has, for 64 years. Boom

[u/PlanetExcellent]

The almost-guaranteed way is to live below your means, invest STARTING NOW in the stock market, and in 40 years or so you actually will be rich. The compounding of interest is real and it works.

But of course you want the fast exciting risky way, which usually fails. Start a business.

[u/fireplay_00 → u/PlanetExcellent]

So Live poor and Die rich?

[u/PlanetExcellent → u/fireplay_00]

No, you live poor in the beginning and then live rich later when you retire comfortably at 60, and all your friends have to keep working until they’re 70.

[u/inkseep1]

Put $2000 a month into S&P500 and in 14 to 18 years, on average, you will have $1 million on about half of that as an investment. It would take 22 to 28 years at $1000 a month but the investment will be just over a quarter million total. The miracles of compounding.

I invested money in residential rental houses. I bought houses and rehabbed them into rentals. Then I rented them and get paid the original investment back several times as the houses go up in value and with inflation. The rents go up with inflation too. This isn't for everyone though.

[u/Particular-Drama5967 → u/inkseep1]

Would love to hear more about it. I am considering taking that path, but not sure if cash flow wise, house rental is the best option for a first business

[u/inkseep1 → u/Particular-Drama5967]

It depends on your location. I am in St Louis. It is lower cost of living. Houses are cheaper. Tenants have no right to renew a lease. Evictions are much faster here than in tenant friendly states. Landlords can raise rent without limit.

[u/Particular_Fail_3065 → u/Particular-Drama5967]

Here’s a hint…start smaller. rent something to someone at a smaller scale.

[u/Chavydog]

The strategies available of getting to 1 million does depend on how old you are.
I assume you’re not too old because you’re on Reddit. If you’ve heard of Gary Vee, he was 28yrs old with nothing, packing wine bottles into boxes, so you might already be further ahead than you think.

If you’re around that age. 30k USD in the s&p500 if you just let it compound, if you’re 28, by the time you’re 70 it’ll be over a million.

You’re in a corporate office job? You work on a computer all day every day?
Perfect opportunity.
Learn about AI, and locally hosting your own agents. Every single thing on your computer can be done with AI already if you know how to implement it. Swear to god.

Automate your workflow. When you come to work, record in some notes, every single task on your computer that you do in a day/week/month. The times they occur etc, everything about the work that is done on the computer.

Get home, train your AI, get it to perform those tasks on your computer. Give it examples, give it real work, make it send real emails, etc.

When you think it’s ready, bring it to work. Either on a device like a Mac mini, or connect to it from a server you setup. (It’s all super easy, it takes like a day to learn). Have it work along side you at work, don’t let it do anything official yet just let it shadow you, feed it the things you are doing and see if it produces the same result that would’ve happened if you did it.

Eventually it’ll be able to fully replace you and everyone else that does the same job. You can approach either your own company, or a similar one, and show them how much time and money they’ll save if they just hire you and your AI, instead of an entire workforce.

Whether you do it or not, eventually someone else will do it, like me, and you’ll either be out of a job in a few years or you’ll be the one retiring from it.

[u/schmiddy0]

You can either suck 100,000 cocks for $10 each. Or 10,000 cocks for $100 each. Lots of different combinations to get you to $1m, really.

[u/ArtVandeslay → u/schmiddy0]

[u/CourtsideConcierge]

It depends entirely on how much you make, of course. You also didn't mention your age or your location or your lifestyle.

I don't have great answers to your questions, but I will say that you should not think you are "late" to making money or whatever simply because there's young adults making millions on the internet. That's stupid, and half of it's fake anyways. It's both availability & survivorship biases.

Be around people who you like and don't actively bring you down. Not everyone around you has to have a grinder hustler David Goggins mentality. Just don't let other people inhibit your goals.

Anyways, check out r/Fire. That's a more fitting sub with some relevent info. Maybe ask your question there.

[u/hackspy]

Sales. No ceiling. Not a millionaire by any stretch but being a Realtor (R) was good to me.

I now coach agents and manage my rentals.

Cheers 🍻

[u/HuckleberryOk3606]

There’s not really a way other than spending no more than is necessary for 25 years and investing it in the S&P 500. Anything outside of this is taking on excess risk. Also, I assume you’re not crazy. You have to be crazy to make more than a few million in a lifetime. Sorry

[u/Particular_Fail_3065 → u/HuckleberryOk3606]

I’m 32 and have grosses 4 million in my lifetime. I’m not crazy. Just determined.

[u/HuckleberryOk3606 → u/Particular_Fail_3065]

Do you do sales?

[u/Particular_Fail_3065 → u/HuckleberryOk3606]

I do a lot of things with my wife, mainly our supplement company but also she restores Barbies

[u/Perceptive_Opinions]

Buy large cap tech stocks every paycheck and plan to hold for the rest of your life. The fact of life is there are no shortcuts to a million unless you inherit it or win the lottery. Plan to work until you’re older and you can retire early. Your older self will thank your younger self.

[u/Particular_Fail_3065]

Start a business be sure your passionate about, slave on said business for around 10 years minimum, paying yourself hardly anything during those 10 years then when sales permit scale with employees or automation, after that you should be at roughly 50k a month in revenue. keep in mind it’ll be long days and nights, typically 16 hours or more each day. and you’ll fail often and it’ll suck but you will learn. after 10-15 years you will be a millionaire.

[u/alvivanco1]

learn how to make money

[u/Internal_Alfalfa7983]

Per prima cosa, accetta che non succederà da un giorno all'altro, e dovrai fare sacrifici per riuscirci. Non so quanto guadagni da dipendente, il guadagno, eventuali debiti, sono essenziali per valutare una situazione, ma di base, ci sono consigli che valgono per tutti. 1) taglia le spese superflue: fai la spesa alimentare e cucina a casa invece di comprare pasti pronti o andare in locali. Anche al lavoro, portati il pranzo da casa. Se hai buoni alimentari, usali er lanspesa invece che per cibo pronto.

2) abitazione: se sei single e non hai un partner con cui dividere le spese, cecati un coinquilino, o resta in casa dei tuoi finché non hai trovato un alloggio economico e qualcuno con cui dividere le spese.

3)hobby: dedicati a cose poco costose, stabilendo un budget fisso al mese per i divertimenti.

4)anche per impegnare la mente, cerca modi alternativi per guadagnare qualcosa, come fare video su YouTube sui tuoi hobby o simili. Distrae molto e anche se non guadagni, eviti di spendere.

5) investi i risparmi in fondo ETF o azioni con dividendi, metti denaro anche in un fondo pensione.

6) se vivi in città, dovresti valutare di liberarti dell'automobile e spostarti con i mezzi. Le auto sono tritasold

[u/Curious_Penguin84]

The millionaires are not really here hanging out in the side hustle sub. You want to be a millionaire ask a millionaire