How To Become A Millionaire In ONE Year (My Plan)

My plan on how to become a millionaire in one year.

What does it mean to be a millionaire? When I say millionaire, I don’t mean have a million dollars cash in the bank account. I mean a net worth of a million dollars, across all my assets like stocks, real estate, cash, etc. Everything. Speaking of cash - what does a million dollars even look like?

Have you ever seen a million dollars? What does it feel like? Today, I found exactly what a million dollars looks like.

Dave Ramsey’s advice to becoming a millionaire is one of his most popular videos which got several million views and it’s a pretty simple strategy. The way to become a millionaire is to invest exactly $100 every single month in a tax advantaged account like a Roth IRA or a Traditional IRA, by buying a stock that’s growing at 12% per year - and if you can do that for 40 straight years, then you can become a millionaire if you can invest 100 a month with said 12% stock. Sounds easy.

However, it’s a highly debated and disputed point amongst the finance community whether or not such a 12% stock even exists because keep in mind, the average historical stock market return rate is around 10%, or 6 to 8% real return after inflation. In fact, John Bogle, the legendary investor who created index funds and Vanguard, has even made a compelling case that the next ten years will return only …..4% per year. So 12% returns for 40 straight years is really optimistic.

The stock in question was American Funds Investment Company of America, mutual fund ticker AIVSX which was started in 1934. It has averaged roughly 12% since it was FIRST created.

Another one is the Pioneer Fund , ticker symbol PIODX which averaged 11.88% since 1928. So he’s not wrong that if you can save $100 and invest it at 12% in a Roth IRA account, letting it grow tax free, you’ll be a millionaire by age 60, if you started by age 20.

If you’re using the Robinhood app like I am, a really good alternative to the AIVSX is VOO which is a large cap ETF with a much smaller expense ratio of .03% than AIVSX’s HUGE .5% and has outperformed it in the last 10 years. If you look for VOO in Robinhood you will find it. This is not financial advice because I’m still, not a licensed professional.

Now here’s where I’m taking a complete opposite approach to becoming a millionaire . My investing philosophy differs from Dave Ramsey’s. I’m not saying my investing approach is better, but unlike Dave Ramsey’s approach which says you’re going to be working for 40 years until you’re a millionaire and ready to go out and live your life without needing a job, I prefer to work for a shorter period of time and retire much earlier in life by taking a slightly higher risk. Of course when I say retire I mean when your passive income meets and/or exceeds what you pay for your bills. Because at that point, you don’t need an active job if your passive income can pay for your lifestyle.

Tbere are lots of different ways to do this like with real estate for example, and there are a ton of YouTube channels that are dedicated to specifically that with real estate, like Graham Stephan, MeetKevin, and others, but those are the only two real estate focused channels I watch. I personally prefer what are called income producing dividend stocks. These stocks allow me to collect passive income no matter where I am in the world, no matter what I’m doing. In addition to that, I want to maximize my time here on YouTube to finally reach millionaire status in 1 year.

This is my million dollar plan. The plan to have a net worth of 1 million dollars by the end of 2021.

*Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.

[AndreiJikh]

July 18th, 2020 - 5 months after I made this video, I'm now "unofficially" a millionaire. I say "unofficially" because it's before TAXES. We'll see if I remain a millionaire after I pay those taxes, but just 5 months after this video was made, my plan worked. Everything in life is simple, and nothing is easy. It was a journey of learning, making money, being frugal, and saving just enough through my investments to take a risk. That risk paid off. If I kept going at my regular career where I was earning 60k per year, it would have taken me roughly 14 years to reach this point (assuming I saved 100% of my income which is impossible). More than likely, it would have taken me twice that long at almost 28 years. I did it here on YouTube in 1.5 years. Not all of it was made because of investing, in fact, VERY little of it was. The investing part was the foundation that allowed me the freedom, and time, to do what I've always been passionate about. I'll be coming back to this video and updating this message. I hope your journey is filled with laughter and success. Thank you if you read this, and if you've watched my silly videos thus far.

[richardmoose]

Guys please the world doesn’t revolve around material things anymore, its time to save, nvest and prepare better for what’s to come in the future

[colingordon]

The future is now, you all need to start somewhere no matter how small

[mandybrent]

The secret of your future is hidden in your daily routine. Successful people do daily what the unsuccessful only do occasionally

[Drum]

How to become a millionaire:
1. Make YouTube videos with titles like "How to become a millionaire in 1 year"
2. Put 5 adverts in them
3. Wait for YouTube to pay you

[tazstaats]

When you invest, you’re buying a day that you don’t have to work.. I pray everyone reading this becomes successful.

[harrisonjamie]

Great video. We all strive for financial independence and better life. It’s not difficult in achieving this through the right investment, living frugally, and budgeting. I’m glad I learned early in life to work hard for financial freedom

[oliviaralston]

You work for 40yrs to have $1M in your
retirement, meanwhile some people are putting just $10K in a meme coin from just few months ago and now they are

[mar-fb]

DO YOU KNOW WITH A GOOD CREDIT YOU CAN OWN A HOUSE?
DO YOU KNOW WITH A GOOD CREDIT YOU CAN DRIVE A CAR OF YOUR CHOICE?
DO YOU KNOW THAT WITH A GOOD CREDIT YOU CAN OWN MANY BUSINESSES SO WHAT ARE YOU WAITING FOR? GET YOUR CREDIT FIXED NOW FROM RAUL! TIME WAIT FOR NO ONE

[anajarju]

Dont get caught lacking, start yours today for it’s never too late

[sweatyonipadyt]

This is quality. You can tell who plans their YT videos out before posting. And all of us appreciate the knowledge free of charge.

[femaleleader]

I have no problem with my current nvestment company, it’s the best choice I ever made hands down

[noelangela]

The smartest move you would ever make is to save and invest for what’s to come, this world isn’t getting any easier

[captainnadson]

*When you invest, you’re buying a day you don’t have to work*I pray every one reading this becomes successful*

[Deltido]

That "conversation" with you and Dave in the beginning is absolutely hilarious. Namely your reactions to his shouting.

I've watched it like 10 times doesn't get old.

[adelesmith]

WHO SHOULD I THANK IF NOT FOR RAUL THAT FIXED MY CREDIT, I WAS SO SAD AND UNHAPPY HAVING 430 FEW WEEKS BUT I'M PROUD TO HAVE 810 TODAY THANKS

[mar-fb]

WOW MY SCORE IS NOW AT 820! THANK YOU RAUL

[charleslapson]

The amount of time we spend believing we can't is more than enough time to learn how you can.

- my Brain

[michaelapotter]

17 year old girl here, you and Graham Stephen have showed me just how important it is to save and invest my money. Thanks to you guys, I'll be prepared the moment I turn 18. Thanks for the high quality videos, humor, and straight up advice. You rock, dude!

[lafucproductions]

HELLO, TELL EVERYONE ABOUT THIS, SPREAD THE INFO JUST LIKE I AM, IF YOU NEED HELP, SEE BELOW