How to Actually Become a Millionaire (Step by Step)
A lot of people think becoming a millionaire is only possible if you’re lucky or already rich. That’s not true.
There are really two main ways to reach one million dollars:
1. Save and invest until you get there (slow but steady).
2. Earn enough income to hit it faster (harder, but possible with the right skills or business).
Let’s break it down.
1. The Accumulation Path
You go to work, get paid, and pay bills. If you want to build wealth, you can’t spend everything you make.
Here’s how the numbers look:
● Saving $4 a day ($120 a month) without investing will take 700 years to reach $1M.
● Invest that $120 a month in the stock market (like the S&P 500, which has grown about 10% a year on average), and it takes about 44 years.
● If you increase how much you invest by 5% each year, you cut it down to 36 years.
● If you invest $500 a month, you can get there in 30 years.
● Add 5% more each year to that $500, and it drops to 25 years.
The point is simple: consistent investing makes your money grow much faster.
But to free up money to invest, don’t just skip Starbucks—cut big expenses:
● Housing – live smaller than you can afford.
● Cars – avoid $500+ car payments. Buy reliable, used vehicles.
● “DSYCA” = Dumb Stuff You Can’t Afford (Gucci, BMWs, etc., before you’re rich).
Get rich first. Then buy luxuries guilt-free.
2. The Earning Path
If you want to get to $1M faster, you’ll need more income. Here’s the math:
One million dollars a year = about $84,000 a month, or $2,800 a day.
Almost no regular job will pay that much, so you’ll need to create something yourself—a business, product, or service.
Here’s how the numbers break down depending on your profit margin:
● A product that makes you $10 profit = 280 sales a day.
● A product that makes you $100 profit = 28 sales a day.
● A product that makes you $1,000 profit = 3 sales a day.
Start with your unique skills and passions. Solve a real problem.
● Don’t chase cookie-cutter blueprints.
● Don’t wait for perfection.
● Focus on earning your first $1 → then $10 → $100 → $1,000.
The internet gives you leverage: YouTube, TikTok, Instagram, and podcasts = free customer reach.
It won’t be easy. Entrepreneurship is emotional, risky, and most businesses fail. But… the upside is unlimited.
While the stock market grows ~10% a year, your business can grow 2,000% in the early years.
Remember: Money doesn’t care about feelings. It doesn’t care what you think you deserve. It only adds up what’s in your account.
If you want to be a millionaire, you have two choices:
● Spend less and invest the difference.
● Earn more by building something valuable.
Both paths require discipline, but either one can get you there.
The real question is: would you rather build wealth slowly over time, or try to earn it faster?
Also, stay up to date on what is happening so you know when to take action by subscribing to Market Briefs for FREE! Enjoy!
Minority Mindset
How to Actually Become a Millionaire (Step by Step)
A lot of people think becoming a millionaire is only possible if you’re lucky or already rich. That’s not true.
There are really two main ways to reach one million dollars:
1. Save and invest until you get there (slow but steady).
2. Earn enough income to hit it faster (harder, but possible with the right skills or business).
Let’s break it down.
1. The Accumulation Path
You go to work, get paid, and pay bills. If you want to build wealth, you can’t spend everything you make.
Here’s how the numbers look:
● Saving $4 a day ($120 a month) without investing will take 700 years to reach $1M.
● Invest that $120 a month in the stock market (like the S&P 500, which has grown about 10% a year on average), and it takes about 44 years.
● If you increase how much you invest by 5% each year, you cut it down to 36 years.
● If you invest $500 a month, you can get there in 30 years.
● Add 5% more each year to that $500, and it drops to 25 years.
The point is simple: consistent investing makes your money grow much faster.
But to free up money to invest, don’t just skip Starbucks—cut big expenses:
● Housing – live smaller than you can afford.
● Cars – avoid $500+ car payments. Buy reliable, used vehicles.
● “DSYCA” = Dumb Stuff You Can’t Afford (Gucci, BMWs, etc., before you’re rich).
Get rich first. Then buy luxuries guilt-free.
2. The Earning Path
If you want to get to $1M faster, you’ll need more income. Here’s the math:
One million dollars a year = about $84,000 a month, or $2,800 a day.
Almost no regular job will pay that much, so you’ll need to create something yourself—a business, product, or service.
Here’s how the numbers break down depending on your profit margin:
● A product that makes you $10 profit = 280 sales a day.
● A product that makes you $100 profit = 28 sales a day.
● A product that makes you $1,000 profit = 3 sales a day.
Start with your unique skills and passions. Solve a real problem.
● Don’t chase cookie-cutter blueprints.
● Don’t wait for perfection.
● Focus on earning your first $1 → then $10 → $100 → $1,000.
The internet gives you leverage: YouTube, TikTok, Instagram, and podcasts = free customer reach.
It won’t be easy. Entrepreneurship is emotional, risky, and most businesses fail. But… the upside is unlimited.
While the stock market grows ~10% a year, your business can grow 2,000% in the early years.
Remember: Money doesn’t care about feelings. It doesn’t care what you think you deserve. It only adds up what’s in your account.
If you want to be a millionaire, you have two choices:
● Spend less and invest the difference.
● Earn more by building something valuable.
Both paths require discipline, but either one can get you there.
The real question is: would you rather build wealth slowly over time, or try to earn it faster?
Also, stay up to date on what is happening so you know when to take action by subscribing to Market Briefs for FREE! Enjoy!
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