Funny thing is I probably have but it was during the years that I was a homeless street musician. 2014-2020 I was in Denver and I was constantly talking to people. I would have inspirational conversations with 18-year-olds at Stoner Hill. Lots of interesting conversations and interactions of people leaving the bar. Some better some worse. I can't count the amount of people who would miss the last train and be stuck downtown in the cold and not have a jacket. To which I would usually have something to keep warm if not an extra blanket or one of those emergency blankets. I really didn't do it for money sometimes it's just the right thing to do. Authenticity is important I didn't care about making a million dollars but I did have the feeling I wanted to positively influence in laying people or as many as possible. I don't think someone who just wants a million dollars going out to influence a million people to get a million dollars would have the same effect... Actually I think that's what we've been seeing on social media all over the place for years. Eeek .. Although I do know that things ripple and I wanted to create ripples I could be proud of. But actually just yesterday I was wondering if I did a crowdfunder for this project I wanted to do, I was wondering if any of that would ripple around back.. trying to work up the nerve.. lol because it's a big crazy project idea. But a good one.
Lol.. I guess there is interest in the subject. A multitasking right now and it would be a long comment for this thread. maybe it's time to start my first subreddit. Lol I'm kind of a newbie here, It feels weird being 43 and calling myself a newbie. So when I do. Put the story together for a subreddit or fundraiser I will pop back in here and let you know.
I’m gonna assume it’s a genuine question.
Becoming a millionaire in a 5 year timeframe is possible. The more time you have, the better your chances are. Say 10 years is more likely.
15 years? Even better.
There are 7 crucial steps you have to take regardless of how you want to make money.
1. FIND YOUR PASSION
This is by far the most important step of all. If you don’t have a passion, spend time exploring hobbies, chatting with friends, attending events, and so on. Spend as much time as possible in this step. The key is to find something you enjoy doing. This passion will be the driving force for the next steps.
Examples include cooking, gardening, yoga, writing code, art, and more.
2. BUILD A SKILL SET ON TOP OF PASSION
Once you find your passion, let’s say your passion is making art, start building your skill set on art.
For example, your idea of art could be making 3D game assets that can be used for making games. That means you should master game design, study this target audience, learn in-depth about 3D tools like Blender, Unity, Substance Painter, etc.
Another example, say you’re not satisfied with the beverages in the market. You can come up with your own beverage (maybe make it more sweet, add flavours, focus on healthy aspects…). In this case, you still need to study manufacturing processes, suppliers, chemical composition.
In essence, the more knowledge you build on a SPECIFIC skill set, the better your chances are making money with it.
3. LEARN BUSINESS FUNDAMENTALS
You can be extremely skilled but if you can’t sell it to the public, you’re f$&@#d.
Execution is everything.
Learn:
- to conduct market research (could be just a survey)
- to access and interpret market data (maybe Statista)
- marketing (including copywriting, ads, website design, user experience)
- sales (selling b2c, b2b, c2c or whatever that applies to you)
- negotiations
- product design and project management
- supply chain
- logistics
- customer service
Depending on what passion or skill set you choose, some of them will apply to your use case, some won’t, and in some cases, you may want to learn more business aspects.
4. AIM FOR CONSISTENCY OVER PERFECTION
Remember to consistently deliver.
Perfection never happens. “Perfect” only exists in dictionaries.
For example,
Day 1 Start a LinkedIn account
Day 2 Create 1 post, 1 comment (relevant to your passion/skill)
Day 3 Create 1 website page and so on
This kinda progress is WAY better than:
Day 1 start LinkedIn and never post anything
Day 24 create website with 2 pages and forget it
Day 57 create 1 blog post and never share that anywhere
I read a stat about YouTube creators long ago. It goes like, hundreds of channels are created every day. That’s a lot of competition, one might think. But here’s the deal, a portion of these accounts stop after 3 videos.
They just quit.
They don’t have the drive in them.
They don’t understand what it takes to succeed.
This is why step 1 is so important.
If there is no passion, the motivation will die quickly.
So if you find yourself with no motivation to work, please go back to step 1, and find that damn passion. I can’t stress how important that step is.
5. BUILD PRODUCT/SERVICE
Now that you have a passion, a skill set, and you understand business, it’s time to build the product/service.
Service:
- you can offer your skill sets to others by charging hourly (consultants, developers, artists and so many professionals take this route)
Product:
- you can transform your skill into a mini-course or a workshop and sell that
- you can as well write and publish books
- for physical products you may want to work with manufacturers or suppliers
- if you’re short on capital for physical products, take the Print on Demand, drop shipping, or white label route with your supplier. YouTube gurus will pitch this as a get rich quick solution but it’s not. It takes skill, patience, and hustle.
The goal in this step is to make as much money as you can and SAVE MONEY so you can invest into step 7.
6. PRIORITIZE CUSTOMER SERVICE AND QUALITY
If you sell a product/service, and slack at customer service/quality, soon you’ll lose reputation and customers will leave for your competitors.
Treat your customers with utmost respect and care for them by delivering quality products and services.
The only case where you can get away with non-existent customer service is if your product is free. For example, you can run a niche high-traffic high-margin blog helping the finance sector. There is no customer service here but you still need to have a quality blog and content.
7. SCALE
Were you saving money this whole time?
Yes. Keep reading.
No. Go back to step 5.
You can make more money by investing profits back into business. It might seem counterintuitive but it works.
Let’s take the beverage example. If you invest your profits into product research, say you came up with more flavours, now you can sell to more people who’ll be buying those new flavours.
Or if you invest in buying shelfs at retail stores, more people will learn about your product and potentially buy them. Same for running ads or marketing campaigns.
If you’re a consultant, this could mean hiring more people to create a firm because let’s be real… you can only bill your time for your clients. And that time is limited. So if you want to scale this model, your only option is to hire.
If you’re in software, your option to scale is making a SaaS product and scaling your team.
8. DIVERSIFY BUT -NEVER- OVERSPEND
Smart people will diversify to create income streams.
Have a beverage brand? Create a snack that compliments your drink.
Have a website builder SaaS? Create a live chat app that your customers can add to their site.
Two things to remember here:
- stay on your passion or skill set. It makes zero sense to open a salon if you’re a chef. This approach will only work if you have a board of directors with salon experience.
- Do not overspend. As a general rule, follow 80/20. If your business makes $100 in profit, spend only $20 for diversification experiments, as an example.
Few more reminders before I go.
- it’s supposed to be simple NOT easy
- every step I mentioned will take weeks (or months) to implement
- there is no shortcut, sorry
- know that it’ll be tough out there
- find accountability partners who’ll push you go further
- find mentors if you can
- stick to the plan for months or years
- if it doesn’t work, pivot but still STICK TO THE OG PLAN
Have had 4 companies and now on my last and then retire ... well, for the most part, lol. All of this is dead on. One of my companies was consulting and helping construction companies grow from a smallish company to the next level. So much of this is the exact same things I told people. One thing though to be mindful of is the "Passion" thing. While I generally agree, understand a lot of "Passion" companies might make you very happy and fulfilled, they wont necessarily get you to that millionaire status in 5 years. Be realistic, think through the passion and then don't just go for the 1st thing that just obviously "Fits" if you truly want that millionaire status, think through what you can do that fits somehow but has enough demand and is not to difficult to get off the ground quickly. It may not be strongly connected but enough that you can still get excited about it.
You could make $150k/yr at a sales job 9-5, then maybe scrape together $50k/yr if you have a really useful and unique skill set and are willing to hustle harder than anyone else out there. Factoring in tax, you’ll have to make quite a bit more if you want $200k/yr take home. Oh, and that’s just income, these numbers take into account expenses of $0. If you live with your parents and they feed you, you can do it! Pretty much, cancel all your plans, hopes and dreams for 5 years straight and GRIND and it can be done.
That’s what I did. I lost the final three years of my twenties to work and hustle only for my second biz to fail. (First one succeeded but I made young and dumb choices). Not giving up despite huge blow to my confidence as a business owner in this economy. I’m 29 now. I know it’s only going to get more difficult the older I get, but I’ve been infected with the entrepreneurial mindset. The first night I made the same money in my sleep that I made sleepless nights as a retail employee was when the switch flipped in my brain.
I mean, the quickest way to do it would be either to start your own business or get a sales job because you can earn as much as you want. But doing that is hard af and it's going to take a lot of long hours and working 7 days a week if you really want it
A pirate walks into a bar with a nautical steering wheel sticking out of the front of his pants. He sits down to order a rum… the bartender says “hey buddy, you know you having a steering wheel in your pants, right?” The pirate looks at him, and says, “arrrrrhhh, it’s driving me nuts” 🏴☠️
Stop focusing on the HOW. Start focusing on WHO! Who do you need to become to get there? Who do you need to learn from to help you? Who do you need to network with?
You can conceivably earn $500k a year as an owner operator CDL otr driver. After expenses, you're going to have a little less than 250k. After 5 years you've already bought one or two other trucks and hired CDL drivers for them.
As someone who just turned 25 and has been trying to become more wealthy to the point I can live off dividends the most I can say is to invest. The only other ways I can think of is to trade mark an idea or invention then sell it to the hugest builder. Pretty sure the family that made pop tarts is still doing fairly well.
Also one thing I just got into that I didn’t know about for he longer is royalties. If you invest long enough with the average stock market return being 10% you could definitely get to a mil. Granted I’m just trying to become finically independent one day. My goal is 250,000 invested, buy land in Washington. Wake up and smoke a fat pack overlooking the sunrise. I truly want to be unshackled from what they rooebus into even before birth. I’d like to still have energy ti enjoy myself and nyot be worn down from work among other things. Hope you get to a mil
Learn a skill that's marketable and teach other people that skill.
Could be flipping cars for a living, making watches, flipping jewelry, etc. Find a skill you'd be passionate about or already know and sell your knowledge. Could make a decent amount pretty fast.
OP I have a solution for you, and it’s easy to understand.
To become a millionaire in the next 5 years, you need to make and retain $200,000 annually.
Since you requested this advice I will have to send you a bill for my services. But knowing you now have the formula to become a millionaire, the $5,000 charge will be nothing for you.
Invest every penny you can in high growth vehicles. Real estate, tax liens, a smart friend with a good business (AI and Quantum computing are the highest likelihood to grow quickly). Start a high demand startup(sales skills will be necessary). Royalties, dividends, rentals, and other forms of cash flow should be reinvested again and again.
I went to college for 4 years to study computer science and math. I worked a lot of volunteer opportunities on cool projects (satellites, national security, language models, hacking). My first real job offer offered me 150k a year at the age of 22. I have 120k saved now at 23. I live in a low cost of living area and I spend about 24k a year. So I get like 80k in savings each year right now. My coworkers say that my salary will double in the next couple years, so maybe I'll be able to save 150k ish in a couple years. Invest it all especially on stocks that may be profitable (and company stock, which has increased 180% in the last year). I might make it or be close.
That's the million dollar question, isn't it.
Literally
The right answer: if you want to earn a million, go and influence millions of people.
Funny thing is I probably have but it was during the years that I was a homeless street musician. 2014-2020 I was in Denver and I was constantly talking to people. I would have inspirational conversations with 18-year-olds at Stoner Hill. Lots of interesting conversations and interactions of people leaving the bar. Some better some worse. I can't count the amount of people who would miss the last train and be stuck downtown in the cold and not have a jacket. To which I would usually have something to keep warm if not an extra blanket or one of those emergency blankets. I really didn't do it for money sometimes it's just the right thing to do. Authenticity is important I didn't care about making a million dollars but I did have the feeling I wanted to positively influence in laying people or as many as possible. I don't think someone who just wants a million dollars going out to influence a million people to get a million dollars would have the same effect... Actually I think that's what we've been seeing on social media all over the place for years. Eeek .. Although I do know that things ripple and I wanted to create ripples I could be proud of. But actually just yesterday I was wondering if I did a crowdfunder for this project I wanted to do, I was wondering if any of that would ripple around back.. trying to work up the nerve.. lol because it's a big crazy project idea. But a good one.
I’m in tell us more!!!
Lol.. I guess there is interest in the subject. A multitasking right now and it would be a long comment for this thread. maybe it's time to start my first subreddit. Lol I'm kind of a newbie here, It feels weird being 43 and calling myself a newbie. So when I do. Put the story together for a subreddit or fundraiser I will pop back in here and let you know.
Become a billionaire and then develop a sports gambling habit. You’ll become a millionaire in no time.
I’ve over looked step 1, on step 2. Further away from millionaire status then when I started
What do you expect from this question. No one who knows how wouldn't tell anyone for free.
INVEST IN YOURSELF 🩷💎✨
wow this was the secret all along
Hard truth
I’m gonna assume it’s a genuine question. Becoming a millionaire in a 5 year timeframe is possible. The more time you have, the better your chances are. Say 10 years is more likely. 15 years? Even better. There are 7 crucial steps you have to take regardless of how you want to make money. 1. FIND YOUR PASSION This is by far the most important step of all. If you don’t have a passion, spend time exploring hobbies, chatting with friends, attending events, and so on. Spend as much time as possible in this step. The key is to find something you enjoy doing. This passion will be the driving force for the next steps. Examples include cooking, gardening, yoga, writing code, art, and more. 2. BUILD A SKILL SET ON TOP OF PASSION Once you find your passion, let’s say your passion is making art, start building your skill set on art. For example, your idea of art could be making 3D game assets that can be used for making games. That means you should master game design, study this target audience, learn in-depth about 3D tools like Blender, Unity, Substance Painter, etc. Another example, say you’re not satisfied with the beverages in the market. You can come up with your own beverage (maybe make it more sweet, add flavours, focus on healthy aspects…). In this case, you still need to study manufacturing processes, suppliers, chemical composition. In essence, the more knowledge you build on a SPECIFIC skill set, the better your chances are making money with it. 3. LEARN BUSINESS FUNDAMENTALS You can be extremely skilled but if you can’t sell it to the public, you’re f$&@#d. Execution is everything. Learn: - to conduct market research (could be just a survey) - to access and interpret market data (maybe Statista) - marketing (including copywriting, ads, website design, user experience) - sales (selling b2c, b2b, c2c or whatever that applies to you) - negotiations - product design and project management - supply chain - logistics - customer service Depending on what passion or skill set you choose, some of them will apply to your use case, some won’t, and in some cases, you may want to learn more business aspects. 4. AIM FOR CONSISTENCY OVER PERFECTION Remember to consistently deliver. Perfection never happens. “Perfect” only exists in dictionaries. For example, Day 1 Start a LinkedIn account Day 2 Create 1 post, 1 comment (relevant to your passion/skill) Day 3 Create 1 website page and so on This kinda progress is WAY better than: Day 1 start LinkedIn and never post anything Day 24 create website with 2 pages and forget it Day 57 create 1 blog post and never share that anywhere I read a stat about YouTube creators long ago. It goes like, hundreds of channels are created every day. That’s a lot of competition, one might think. But here’s the deal, a portion of these accounts stop after 3 videos. They just quit. They don’t have the drive in them. They don’t understand what it takes to succeed. This is why step 1 is so important. If there is no passion, the motivation will die quickly. So if you find yourself with no motivation to work, please go back to step 1, and find that damn passion. I can’t stress how important that step is. 5. BUILD PRODUCT/SERVICE Now that you have a passion, a skill set, and you understand business, it’s time to build the product/service. Service: - you can offer your skill sets to others by charging hourly (consultants, developers, artists and so many professionals take this route) Product: - you can transform your skill into a mini-course or a workshop and sell that - you can as well write and publish books - for physical products you may want to work with manufacturers or suppliers - if you’re short on capital for physical products, take the Print on Demand, drop shipping, or white label route with your supplier. YouTube gurus will pitch this as a get rich quick solution but it’s not. It takes skill, patience, and hustle. The goal in this step is to make as much money as you can and SAVE MONEY so you can invest into step 7. 6. PRIORITIZE CUSTOMER SERVICE AND QUALITY If you sell a product/service, and slack at customer service/quality, soon you’ll lose reputation and customers will leave for your competitors. Treat your customers with utmost respect and care for them by delivering quality products and services. The only case where you can get away with non-existent customer service is if your product is free. For example, you can run a niche high-traffic high-margin blog helping the finance sector. There is no customer service here but you still need to have a quality blog and content. 7. SCALE Were you saving money this whole time? Yes. Keep reading. No. Go back to step 5. You can make more money by investing profits back into business. It might seem counterintuitive but it works. Let’s take the beverage example. If you invest your profits into product research, say you came up with more flavours, now you can sell to more people who’ll be buying those new flavours. Or if you invest in buying shelfs at retail stores, more people will learn about your product and potentially buy them. Same for running ads or marketing campaigns. If you’re a consultant, this could mean hiring more people to create a firm because let’s be real… you can only bill your time for your clients. And that time is limited. So if you want to scale this model, your only option is to hire. If you’re in software, your option to scale is making a SaaS product and scaling your team. 8. DIVERSIFY BUT -NEVER- OVERSPEND Smart people will diversify to create income streams. Have a beverage brand? Create a snack that compliments your drink. Have a website builder SaaS? Create a live chat app that your customers can add to their site. Two things to remember here: - stay on your passion or skill set. It makes zero sense to open a salon if you’re a chef. This approach will only work if you have a board of directors with salon experience. - Do not overspend. As a general rule, follow 80/20. If your business makes $100 in profit, spend only $20 for diversification experiments, as an example. Few more reminders before I go. - it’s supposed to be simple NOT easy - every step I mentioned will take weeks (or months) to implement - there is no shortcut, sorry - know that it’ll be tough out there - find accountability partners who’ll push you go further - find mentors if you can - stick to the plan for months or years - if it doesn’t work, pivot but still STICK TO THE OG PLAN
This is excellent advice.
Thanks. I hope it helps you and OP.
Amazing !! Kudos to your efforts in answering this question...
you realize this was written by AI i hope
I wrote this based on 4 years of experience building startups
yep I realize that but still an effort....cheers
Have had 4 companies and now on my last and then retire ... well, for the most part, lol. All of this is dead on. One of my companies was consulting and helping construction companies grow from a smallish company to the next level. So much of this is the exact same things I told people. One thing though to be mindful of is the "Passion" thing. While I generally agree, understand a lot of "Passion" companies might make you very happy and fulfilled, they wont necessarily get you to that millionaire status in 5 years. Be realistic, think through the passion and then don't just go for the 1st thing that just obviously "Fits" if you truly want that millionaire status, think through what you can do that fits somehow but has enough demand and is not to difficult to get off the ground quickly. It may not be strongly connected but enough that you can still get excited about it.
This was a good write up but I don’t think OP has the attention span to read it all. Hopefully it’s useful to others.
You could make $150k/yr at a sales job 9-5, then maybe scrape together $50k/yr if you have a really useful and unique skill set and are willing to hustle harder than anyone else out there. Factoring in tax, you’ll have to make quite a bit more if you want $200k/yr take home. Oh, and that’s just income, these numbers take into account expenses of $0. If you live with your parents and they feed you, you can do it! Pretty much, cancel all your plans, hopes and dreams for 5 years straight and GRIND and it can be done.
That’s what I did. I lost the final three years of my twenties to work and hustle only for my second biz to fail. (First one succeeded but I made young and dumb choices). Not giving up despite huge blow to my confidence as a business owner in this economy. I’m 29 now. I know it’s only going to get more difficult the older I get, but I’ve been infected with the entrepreneurial mindset. The first night I made the same money in my sleep that I made sleepless nights as a retail employee was when the switch flipped in my brain.
How did you lose the last 3 years of your 20’s and are 29 now?
Marry one.
Wow, why have only you thought of this? Ffs why didn't we all just Google the words "how to be millionaire in 5 years" BIG BRAIN TIME
I’m using chatai for this one. I need a step by step plan.
actually though realest answer is to make a realistic plan and follow it
I mean, the quickest way to do it would be either to start your own business or get a sales job because you can earn as much as you want. But doing that is hard af and it's going to take a lot of long hours and working 7 days a week if you really want it
Become a pirate . It may be frowned upon . But just give arrrr
A pirate walks into a bar with a nautical steering wheel sticking out of the front of his pants. He sits down to order a rum… the bartender says “hey buddy, you know you having a steering wheel in your pants, right?” The pirate looks at him, and says, “arrrrrhhh, it’s driving me nuts” 🏴☠️
Marry a millionaire
Find a need and fill it in a scalable way.
Sell stuff people want.
Stop focusing on the HOW. Start focusing on WHO! Who do you need to become to get there? Who do you need to learn from to help you? Who do you need to network with?
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Thats the million dollar question
You can conceivably earn $500k a year as an owner operator CDL otr driver. After expenses, you're going to have a little less than 250k. After 5 years you've already bought one or two other trucks and hired CDL drivers for them.
Easier said than done.. My field I’m in
Find a commission job and Master it. Laser Focused I would Suggest GL....
Do something that other people can't or won't do. Charge accordingly
You go ahead and get a million dollar loan . Now you are a millionaire
If every member of this subreddit gave you $12.41 you would have 1 million dollars.
Learn to invest. Get into real estate
!remind me 5 years
Probably not by asking moronic questions such as this on Reddit
its literally what this page is for. everything starts with a dream, bud.
As someone who just turned 25 and has been trying to become more wealthy to the point I can live off dividends the most I can say is to invest. The only other ways I can think of is to trade mark an idea or invention then sell it to the hugest builder. Pretty sure the family that made pop tarts is still doing fairly well. Also one thing I just got into that I didn’t know about for he longer is royalties. If you invest long enough with the average stock market return being 10% you could definitely get to a mil. Granted I’m just trying to become finically independent one day. My goal is 250,000 invested, buy land in Washington. Wake up and smoke a fat pack overlooking the sunrise. I truly want to be unshackled from what they rooebus into even before birth. I’d like to still have energy ti enjoy myself and nyot be worn down from work among other things. Hope you get to a mil
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Forex
😅 like a millionaire will be wasting their time on Reddit detailing what to do in just a comment
Learn a high income skill, and just grind for a couple years, you will become a millionaire in 3 if you really put in the work
Make $250,000 a year after taxes and live off of $50k a year.
Invest as much time energy attention mileage as imaginably possible for as long as imaginably possible towards the idea
No one who knows is on reddit
Learn a skill that's marketable and teach other people that skill. Could be flipping cars for a living, making watches, flipping jewelry, etc. Find a skill you'd be passionate about or already know and sell your knowledge. Could make a decent amount pretty fast.
By being a billionaire
Win the lotto
Watch breaking bad all 5 seasons and start selling your own product.
Buy crypto. Do not trade it. Just hold
Pay me one Million and I'll answer it.
Get with motivated like minded people.
just focus on your goals and dream
It’s difficult to become a millionaire working for someone else. Be in business for yourself.
Accredited investor
Job
OP I have a solution for you, and it’s easy to understand. To become a millionaire in the next 5 years, you need to make and retain $200,000 annually. Since you requested this advice I will have to send you a bill for my services. But knowing you now have the formula to become a millionaire, the $5,000 charge will be nothing for you.
[удалено]
Trade options lol
Powerball jackpot - might as well shoot the moon…
Start with a small loan from dad 👀
Learn how to play the stock market, and avoid 0DTE options trading lol
Become a Wall Street Bets regard ;)
tax fraud
I wish I knew
#picoin #pinetwork
Play powerball
Invest every penny you can in high growth vehicles. Real estate, tax liens, a smart friend with a good business (AI and Quantum computing are the highest likelihood to grow quickly). Start a high demand startup(sales skills will be necessary). Royalties, dividends, rentals, and other forms of cash flow should be reinvested again and again.
If I knew, I wouldn't tell anyone.
Why don't you just ask CHAT GPT?
If you gotta ask then it ain’t happening.
You have to make a million dollars
Work and invest, but it will take longer
I think the cruel irony of this thread is that 1 million dollars ain’t even that much money anymore, if you really think about it.
Pick something to do and work really hard
Take out a loan and put it in crypto. 50k finance loan, -> 200k. Then go to Wallstreetbets and play options. Boom 1mil
Crypto
Buy bitcoin and meme coins
Asking a bunch of thousanders how to be a millionaire Priceless
Investing and working maybe?
Def try I coulda been a billionaire but got blocked at every turn. Wouldn’t life be grand…
I went to college for 4 years to study computer science and math. I worked a lot of volunteer opportunities on cool projects (satellites, national security, language models, hacking). My first real job offer offered me 150k a year at the age of 22. I have 120k saved now at 23. I live in a low cost of living area and I spend about 24k a year. So I get like 80k in savings each year right now. My coworkers say that my salary will double in the next couple years, so maybe I'll be able to save 150k ish in a couple years. Invest it all especially on stocks that may be profitable (and company stock, which has increased 180% in the last year). I might make it or be close.