How To Become a Millionaire ASAP

About this episode:
I talk to a lot of people wanting to become a millionaire, like, yesterday. So in today’s video, you’ll get a realistic idea of what it takes to reach $1 million in net worth as soon as possible.

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[Redwood]

I'm an amateur investor with a portfolio of 270k but it's hard for me to build confidence. I want to invest another 140k over a one month span, but I want to be strategic about doing it so I can grow more and not stay stagnant. Any stock suggestions?

[shuraandrew]

I know one thing for sure, starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.

[avaisabella-nb]

The difficulties that the current generation faces are quite depressing. I wanted to know how to use some money that I had. I used a small portion of it for online sales, but that failed. My primary concern is safeguarding my $300K stock portfolio from loss, but I'm not sure how to go about it.

[EthanBrown_]

I sometimes wonder how successful investors manage to accumulate enormous wealth from their investment endeavours because I am an avid investor. I currently have equity from a recent house sale that exceeds $545K, but I'm not sure what to do with my money next. Is now the right moment to buy stocks, or should I wait for a better opportunity?

[Jaymilnere]

I am a senior citizen and I believe that no one can become a millionaire overnight, it takes years of smart not hard work, time management and the right investments. Every year you don't invest you simply fall a year behind and I say this from experience.

[lawrencedyke]

Achieving success hinges on the steps you actively take toward it. Accumulating wealth involves cultivating positive habits, such as consistently setting aside money at intervals for robust investments. Financial management, often avoided by many, can later become a haunting issue. My hope is that anyone reading this finds success in their journey!

[tommychestnut]

From paying for day care and college, to managing mortgage payments. I'm approaching retirement yet inflation is getting worse. How can I generate more income to retire with at least $3m for long term care? I have about 750k in savings.

[yuyfrxw]

I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.

[cashflow]

I hit the millionaire status at 54. It took me 26 years. Yes it does take time.

[LucyNicole]

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Michelle Stewart.

[DBiggsWoodworking]

I picked up woodworking as a side hustle, it's going so well that I'm making it into an LLC as we speak. Thank you for all the awesome tips and advice, my finances have never looked better!

[Vivienedouglass]

As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.

[RoadDogRiley]

Ten years ago, I was debt free. Now, I'm over $50K in debt. Why? I didn't have a goal. I also borrowed and spent money on things that I didn't need. The first thing you have to do is set a goal. My wake-up call is that I am 54 and not ready to retire in ten years. I don't want to depend on inheritance to get out of debt and retire. I now have a goal. It isn't to buy a house though. That is the typical American dream for most people and it does build your net worth. My goal is to retire on a sailboat and cruise the seas. First goal: become a millionaire in ten years. Second goal: remain healthy to enjoy my retirement.

[wan]

We’re halfway there at 34 after 7 years on the plan.

On our way to go buy a van for cash for our soon to be here 3rd baby while continuing to invest in our retirement on one income.

[rbennett]

We were Dave-ish until three and a half years ago. Once we stopped being Dave-ish my wife and I have seen our net worth more than double.

[Maguirehook]

My wife and i net worth was 62k april 2020.
Just hit 550k this week

[markamark]

As a French bull dog owner. I agree, but Maverick still is priceless to me.

[EcomCarl]

Great discussion on the realistic timelines to wealth accumulation! It's crucial to remember that while there are quick wins, sustainable wealth typically requires a long-term strategy and disciplined financial habits. Staying patient and consistent is often more rewarding than chasing quick riches. 👍

[bigsteezer]

Im surprised when discussing increasing income you never mentioned moving companies. I doubled my salary by doing this. Thankfully Im in tech and this may be more realistic in my field.

But definitely consider moving jobs. My first salary was 55k then I left that company for 110k salary at a different company. Doubled salary in one hop. Then a few years later I went from 120k to 170k by switching companies again.

Shop around for employers. Sometimes you dont need a side hustle you just need to find a company that will pay you what youre really worth.

[republicunited]

Opening a Roth for my soon to be 18 year old son. Couldn’t do it earlier, so I’m hoping to give him a better start. The UTMA will help too.