Top 5 Paths to a Million Dollars |
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Even though it has lost a lot of buying power over the years, many people consider having a net worth of a million dollars a significant achievement. Today, I’d like to examine some of the common ways that people become millionaires.
5. Marry Rich - This was the route that brought Anna Nicole Smith much of her fame and fortune followed. Unfortunately, it probably won’t make you happy, which is probably your goal.
4. Be Extraordinarily Talented - Many sports players, musicians, and other entertainers follow this path to success. Unfortunately, you generally have to be in the top .00001 of talent level or…
3. Be Extraordinarily Lucky - Sometimes the talent in #4 isn’t enough. There are a lot of starving artists who are more talented than say, Biz Marke - yet Biz has likely made a million dollars from a single song. Unfortunately, as many rabbits’ feet and four-leaf clovers I have, I am still far away from being a millionaire.
2. Perform some Crazy Stunts - It seemed to work for Jackass star Johnny Knoxville and even SuperSize Me star Morgan Spurlock. Or perhaps you could trade one red paper clip for a million dollars. Unfortunately these all require quite a bit of luck, creativity, and a high tolerance to withstand pain and/or physical and verbal abuse.
1. Read and follow all five of the principles at GenX Finance. This requires a little discipline, but very little luck, very little pain, very little talent, and very little creativity. I think we have a winner.
There are more ways that aren’t on this list. For instance, starting a company is another very common way. However, I’m limited to just 5 for the Top 5 Group Writing Project.
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 PropellerStart working towards a million dollars by only filling out credit car applications that are right for you. Don't get stuck with credit cards that get you further into debt, try to focus on low interest credits cards instead of cards with promises of rewards. Also look for 0 apr cards!
Next: Compound Interest Week: Real Interest Rates of the Stock Market
May 9th, 2007 at 3:34 pm
Thanks for the mention
I tried to marry rich but that didn’t work out for me. Who knew you could marry a lawyer that earns less than some McDonalds managers.
May 9th, 2007 at 6:01 pm
I’m gonna have to take part in that content too! check my blog shortly….
May 9th, 2007 at 11:59 pm
You are forgetting one of the best ones: join a really hot start-up, get tons of stock options and wait for it to go public…
I guess that could be filed under “be really lucky”, but here is Silicon Valley there just seem to be so many stories about people that got ridiculously rich by joining [insert name of start-up here].
May 10th, 2007 at 3:38 am
Or how about make a page of 1 millions pixels for sale, oh wait even alex can’t repeat his success with pixelotto.
I guess I just have to do the hard work
Funny read have a look at my blog writing project as well.
May 10th, 2007 at 6:07 am
Good post! Humor with a link to some good info at the end. I like the title too. It follows one of the five techniques that I suggest in my post Top 5 Tantalizing Blog Title Techniques.
Sorry for the self advert, hope you don’t mind. Good luck in the runnings! I did enjoy the read.
May 13th, 2007 at 8:50 am
Marry Rich, is a nice idea
May 30th, 2007 at 12:07 am
Hi. at first i have been thinking of doing something like http://www.sketchmyphoto.com. However, I m sad when i browse the net and saw a few similar services. The website is servicing for free. What else idea you all have? Maybe we can brainstorm a little.
December 1st, 2007 at 2:54 am
I wan`t by Merry Rich
January 20th, 2008 at 1:15 am
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May 23rd, 2008 at 9:43 am
Well, for the common person those things aren’t viable. But the 5 principles are good and sensible ideas to live by. There’s no insurance policy anyone can become a millionaire but if you make sound choices it leads in the right direction.
Jerry
June 25th, 2008 at 12:58 am
yeah marry rich … the easy way out. too bad i already got married 10 years ago before I thought of that. i married poor and i am poor
no just joking, i have a nice side income from online work too, but not as good as you are doing. i’m still working hard on that though. launching a new website almost every week now.
August 18th, 2008 at 2:39 am
Marry rich would work well.
Build a business with a passive income stream
August 18th, 2008 at 7:06 am
I was having a similar conversation with my OH the other day. We were talking about all the “rich” people I had looked after in my job as a Financial Adviser, and how they came to be that way. Interestingly most were rich through methods over than those which would immediately come to mind. Here are the top three ways:
1) Received a life insurance payout on the death of a close relative.
2) Bought there council house for pennies at the start of Thatcher’s “Right to Buy” scheme in the late 80s.
3) Received a large redundancy settlement and used it to buy a house.
October 9th, 2008 at 6:42 pm
The coolest and funnest isn’t always the easiest.
No expert, but the EASIEST (by easiest I mean the less physical labor) would HAVE to be start young, invest, and let interest get you to a million. My father in law started that way. HIS dad invested in the stock market for 11 years of age. Never, ever made a salary above 15,000 annual and died at 88 with over 2M.
My father-in-law started in the market at 9. Never made over 40K and made a million by 60. Now HIS son is around 40 and is about the break a million. He cuts grass for a living. ANd works for the state.
But, they ALL live like they are living paycheck to paycheck. No big deal house, no big deal car. Dress in Kmart clothes. Just don’t see the point. Some people just like to see the ink.
Me, I’m a loser. Been self employed just about all my life, always struggled, always barely made ends meet. Last 5 years, things turned around. I figured out that doing all the physical labor myself would never get me there. EVERYTHING I own, all my stocks, savings, house, cars, EVERYTHING has come in the last 2 YEARS. And if I can stay lucky for another 5 years, I will have doubled my inlaws. But luck will HAVE to continue.
To ME, if you’re OVER 20, the best way, combining ease, luck, reality, NON pipe dream (getting in with the next microsoft is a pipe dream, it MIGHT happen, but don’t bet on it) is working for yourself. Find something youre GOOD at, and INTERESTED in, no MATTER WHAT it is, and combine that with NEVER EVER QUIT attitude and it will come. You ALWAYS need LUCK, always. (and don’t ever, ever believe “you make your own luck”. You very well MAY once in a while, but you NEED to be lucky along with all those positive personal traits.
But don’t think luck ALONE will get you there. (it MIGHT, but again, don’t count on it).
But IF youre LAZY, get in the stock market EARLY. My inlaw was one of the most physically lazy human beings I have ever met. But he got ABSOLUTELY OFF when he would make money off of someone else’s sweat and talent. Now, if youre hardworking, talented AND love the market, well, then……..you’re gonna make a LOT of money in your life, most likely.
October 30th, 2008 at 9:17 pm
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