How To Be A Millionaire In 10 Years (Starting With $0)

The YouTube Creator Academy:

HOW TO BE A MILLIONAIRE IN 10 YEARS:

ONE: You NEED to save as much money as possible.
As simple as it might be to say: without this part, the ENTIRE plan fails…and, when it comes to increasing your net worth, at the end of the day…it doesn’t matter how much you make…but instead, how much of that you’re able to save.

TWO: You ALSO need to make a lot of money.
Working ANY job that pays based on RESULTS or individual TASKS…your income will SKYROCKET, because NOW - hours no longer make a difference. Personally, I think sales are one of the most under-rated careers out there, because it often serves as a stepping to earning a higher income, while teaching you everything you need to know about time management, customer service, and efficiency….not to mention, it could also provide funding for just about anything else you want to do, later.

THREE: Realistically, you’ll also have to invest your money.
As an example, just consider this: If you SAVE your way to $1,000,000 in 10 years…you’ll have to put away $273, every single day - or, $8333 per month - to make that a reality. BUT…if you just INVEST that money, instead….you can get there with “just” $158 per day, or $4750 per month, while averaging an 8% return…or, in other words…you need substantially less if you’re consistently putting your money to work.

THE PRACTICAL STEPS:

First, cut back as many expenses as much as you possibly can.
Figure out the BARE MINIMUM that you need to survive, with some discretionary spending thrown in every now and then…and, from that point on- anything you make above that amount will be automatically invested.

Second, determine how you can make more money.
Perhaps look into switching careers, learning a trade, starting a side hustle, or starting a low-overhead business from home. The fact is, this isn’t going to be possible if you earn under $50,000 per year…but, the GOOD NEWS is that there are PLENTY of ways to make extra money, if you’re willing to put in the time.

Third, once you have enough money saved up - I would highly recommend you reduce, or even eliminate your entire housing cost by investing in a multi-family property.
This is where you buy a multi-family home, like a duplex, triplex, or fourplex, then live in one of the units and rent the others out. Typically, when done right, those other units will cover the entire cost of owning the building - and all of a sudden, you’ve got a free place to stay, while allowing you more money left over to re-invest.

And fourth, you can keep repeating that process every 2-3 years.
For example, banks allow you to get a low interest rate loan, as a primary residence, with up to 4 units - as long as you intend on living there for a year. That means, you can buy a cash flowing property - move in one of the units…wait for another one to come along…buy that, rent out the previous unit…and start the process over again, while gaining equity and cashflow at the exact same time.

At the end of the day, building up a $1 million dollar net worth is all about numbers - and, even though your spending tends to be the EASIEST to control and point you in the right direction - your income is the speed at which you’ll hit your target.

My ENTIRE Camera and Recording Equipment:

[rossetti]

I'm in a retirement fb group and I saw a couple who makes 250k barley saving anything. I, who makes 70k a year, saves more than they do. I ALWAYS tell people it's not about how much you make but how much you spend. Makes me feel good knowing there are people out there making way more who are actually way less off.

[jeffreyspiker]

I’ve been watching Graham for a while and this is definitely the best video I’ve seen. I love the easy to understand format. I’ll share this with my kids for sure.

[jonathanzach]

To your point about choosing a career that isn't dependent on hour worked, I recommend choosing tech sales (AE, SDR, sales).

[richhands]

My three favorite channels: Graham Stephan, Stock Brotha, & Minority Mindset. Make my week complete!

[JamesDoyle]

Graham this was full of detail and numbers which was great of actually visualising the challenge ahead - appreciated

[lorenzomendieta]

My respects to you Graham, i love your videos, always educational, although, im not interested in real state, just the stock market .i always dreamed of buying stocks.

[AngeloBonaveraArt]

I used to listen to your real estate videos over and over several years go. I still think ur 'how to make money' story is good tv.

[Kolobros]

I watch your videos at 2am every single time you post one!

[DaMuddaSpicy]

I absolutely the "BuT gRaHaM" cuts always give me a chuckle. My wife and I are following this plan as well as going through our jobs for 401K matching. Great informational video as always!

[Squatanddeads]

Vintage Graham! These are the videos why I start watching this channel!

[tabbycat]

Graham: do you have an Investing 101 video or series for newbs? I keep running into people that need to get the “facts of life” about regular stock investing — quickly, especially these topics: What to Buy, Dollar-Cost Averaging! Why Diversifying is Good, Leave it the F Alone (Passive Wins), and Debt is Bad. I think your recent Ramsey interview covers that last topic nicely. Are there specific single videos you can point to for the others? Thank you for raising the financial literacy of America. 😸

[warlord_]

"whats up Graham its guys here?" That through me off! lol

[NateLeeLLC]

Love this video. Classic Graham content!

[kansasmile]

<<You could live a very comfortable retirement with That's $50, 000 a year for 20 years. I live a great life now on only 30, 000 a year. Of course that doesn't include going on vacations for weeks and weeks, 2 purchased rental property and RM 016>>

[sonyakim]

This just makes me want to stop going out to eat all the time. I’m a student right now so I shouldn’t be doing that anyways. I like how you encourage people to live in a frugal way because it’s going to help me save more to spend less in the meantime.

[caa]

These are my favorite type of Graham videos 👍🏼

[iamkerenlouise]

Hey Bro--There you go again, dropping nuggets to help us win financially in this life. I can't thank you enough, you've helped me become a millionaire in less than ten years--you're the GOAT! I hope you do YT for years to come; you're one of a kind and I for one, am so proud of you.

[realestateinfonet]

Very helpful information! Thanks for taking the time to share it with us! Sincere regards!

[RBS]

Glad to see you bringing these simple, but so often overlooked tips to the forefront. Financial literacy is needed now, more than ever

[forreview]

Grahm you're an absolute unit! Please keep making content for the masses, its going to help educate and change our generation and the generations after us... Lord knows most of this wasn't taught in school