Becoming a millionaire in a lifetime is not a big problem, a lot of people will become millionaires before they die but how many people truly check if they met their goal of becoming a millionaire as they continued on their journey. How can you become a millionaire and how do you know you have reached this milestone. Becoming rich isn’t just having too much money all of a sudden, it is a gradual process of mathematics.
How do you become a millionaire?
By earning it as salary
A lot of us just get our salaries and do not actually pen what we make and how we spend them. A lot of people can hit the millionaire mark by getting paid for the job they do. You do not have to own a company before you become a millionaire. Some jobs can get you to become a millionaire in 5 to 10 years, and they are finance, medicine, law, oil and gas and technology, holding positions and working in this industry can make millionaires in less than 10 years.
Investing in index fund
If you are able to invest at least $100,000 in an S&P500 Index fund in 25 years, then you can become a millionaire as the average return on this is 10% annually. Investing in index like Fidelity zero Large cap index, Vanguard S&P 500 ETF, SPDR S&P 500 ETF Trust, ISHARES CORE S&P 500 ETF, SCHWAB S&P 500 INDEX FUND and others can be a very good way to make money.
Selling your published book
I do not always like this as a lot of people have started selling books that aren’t even what they are or understand, for example selling a book on wealth when you do not even have money to publish it but because money will be made, people will pass knowledge they stole from other books. The price of an average book is $9.99, so selling 100,000 yourself.
Double your investment several times
How do you double your investment in this world, this is very simple and doing this can make millionaires. How do you double your investment? There are several ways to do this and one is flipping goods, buying tools and using the tools to solve a problem.
Investing in the right cryptocurrency can be very impressive making people earn money when the price is up. Becoming a millionaire with cryptocurrency is really possible and if you are smart at either trading or investing, then you should become a millionaire in few years.