How to become a millionaire fast in a year? Top 10 best ways

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Ever thought of becoming a millionaire at one time? How do you even become a millionaire? Do you inherit money? Work for it? How do you get from zero to millionaire?

This is the purpose of this article

Most articles online don’t provide a practical guide to move you from zero to becoming a millionaire,

So

How do you move from zero to a millionaire?

The best ways to become a millionaire include get a high paying job, get out of debt, learn to use debt to buy assets, start a business, start a side hustle, get out of debt, monitor your spending, start investing early, invest in stocks and real estate,

Here are the best 20 best ways to become a millionaire

Becoming a millionaire is possible if you commit yourself to do the following 20 things

  • Change in your mindset

Your mindset plays a very significant role in becoming a millionaire or not

You become what you think of, your beliefs and attitudes determine whether you will become a millionaire or not

Do you believe that money is the root cause of evil? Money does not bring happiness?

If yes chances are you will have less of it

But if you believe in abundance, you will always keep finding ways to get more of it

  • Get a high paying job

We know that we can’t all become entrepreneurs; we need people who will work for us, people who will make our dreams come to reality

So getting a high paying job like jobs for CEO, president, manager, the director will help you pave way to become millionaire

Like the CEO of google.com earns over $280 million

If you reach that stage becoming a millionaire is possible

But if you stay in an entry position for 5 years without any promotion, you have fewer chances to become a millionaire

So what should you do?

Start a side hustle business

  • Start a million dollar business

Starting your own business is by far the best way to become a millionaire fast

All you need is to identify a gap that is within the society you live in, there are many problems which people are facing; these problems can range from health, social, religious, and cultural problems

Starting a business will help you to have control over how much money you can earn

All you need is to start a business that can generate a million dollars

So what should you look for before starting your business, you need to start a business that affects a large number of people, people should be willing to pay you to solve their problem and your solution should be scalable?

You should be able to sell the solution multiple copies without incurring much production and shipping costs

This is why I like digital products; you create a product once and sell to different audiences without incurring more cost

The best businesses to start to include health-related because people will never stop falling sick, transport-related because people will never stop moving from one place to another, food-related because people will never stock eating, saloon because men will never stop shaving their hair

  • Take risks

The majority of all people who don’t have a net worth of a million dollars are not willing to take risks

They play it safe to secure their current job, they fear to tap into other ventures

They are interested in earning a living but not creating a fortune

So the truth is if you fear to take a risk, you will not make it to a million dollars,

There is a risk in everything, the higher the risk, the higher the profitability

If you want to become a millionaire take risk

  • Start saving as early as possible to enjoy the power of compound interest

The earlier you start saving money, the more money you will accumulate, you need to save $100 each month for 40 years to become a millionaire

So

Starting early to invest is the best because you will enjoy the power of compound interest

The truth is that saving alone won’t make you a millionaire but what you do with the savings makes you one

So what should you do? You need to invest money into something that will generate positive returns in the future

Which are the best investments to make? Real estates, stocks, index funds, land, and starting a business

  • Win the lottery

Winning the lottery should be your last resort and the riskiest of all methods of becoming a millionaire

Why?

Your odds of winning are minimal, for every 10,000 games, you only have one chance of winning

So I don’t recommend this unless you know that you’re ever the luckiest

  • Use your talents

Do you have any talent? Your talent is a very precious gift you can monetize to make a million dollars

Look at the millionaire self-improvement gurus like Tony Robbins, lisle Brown, Simon Sinek, and Dan Lok, all these people have made millions of dollars by leveraging public speaking gigs

Look at millionaire athletics and sportsmen and women, all these people became millionaires through leveraging their talents

Look at basketball players, football players, rugby players, etc, all these people make millions of dollars just by using their talents

They also enjoy more money by getting deals and brand sponsorships which is not part of their salary

Have you heard of pieces of art that have been sold for over $50 million dollars or a guitar that was sold for over $10 million dollars

So

Do you have any talent?

Is it sports, writing, art and craft, magician, etc? Whichever skill you have, that is the beginning of you becoming a millionaire

Leverage your talent to become a millionaire and it is possible

If you have no platform, start a YouTube channel and showcase your talents like how musicians and filmmakers do to earn a living

  • Become innovative

Innovators become millionaires; can you bring something new to the market? If yes this is for you

You don’t need to reinvent the wheel, look at what is existing and find a way of making that product better

All you need is to come with something that solves the problem which people are facing

So what is that problem that affects your society? Are people willing to pay to provide the solution?

If yes this is the best business idea, start from there, solve their problem, and money will come

  • Marry a rich person

Did you know that getting married to a millionaire or billionaire positions yourself to becoming a millionaire or billionaire?

For example, look at Jeff Bezos divorce which made his wife become a billionaire when they shared assets, the wife took over $38 billion

So if you’re interested in becoming a billionaire or millionaire, get married to one of them

Have you ever gone to restaurants and find cute beautiful ladies? They hang in those places because it is where they will get rich men

Hang in slum area you will get poor drug addicts but if you hang out inexpensive places, you never know you will get one to admire you

  • Steal a billion dollars

Stealing is unethical and illegal but many people have stolen millions and billions of dollars and been given life imprisonment

So how will you benefit from this when you end up in jail?

The truth is that your family will enjoy your fortune and your children will never have enough money not to still

So if you still a billion dollars, come to me so that we organize for your jail

  • Create multiple income sources

Over 60% of all millionaires have more than 3 streams of income, so to become a millionaire, you need income coming from different directions

This means you need to have money that is working for you to create more money

So you need to have earned income, capital gain, portfolio income, interest, and profits

So you need to invest money in yourself, your personal business, and other people’s business

  • Start a blog

Starting a blog changed my life and if you decide to follow my path, it is a great way to make a million dollars

You need is less than $100 initial investment for web hosting and domain name,

Once this is done you need to start creating content

Blogging takes time to make money but once the money starts to come me, promise me all your work will pay off

To start a blog, you need to choose a niche or a topic which you’re passionate about

The best blogging niches include personal finance, software, and business, make money, beauty, travel, etc

Starting a blog will open up several avenues to making money

You will earn money affiliate marketing, freelance writing, advertising, courses, sponsorships etc

To prove this can make you a million dollars, ask Adam Enfroy from adamenfroy.com in just less than 2 years, he made a million dollars which will take 40 years for someone on the corporate job to get

  • Start a YouTube channel

Are you good on camera? If yes this million-dollar opportunity is for you, you can make a million-dollar by just creating good quality videos and uploading them to YouTube

Once you reach 1,000 subscribers and 4,000 watch hours, you will join the YouTube partnership program,

You will be paid whenever people watch ads on your videos

Also, YouTube opens up several ways for you to start making money

This can be through affiliate marketing, sponsorships, courses, donations, etc

To prove it is a million-dollar idea, ask Graham Stephen or Andrei Jikh, these people have made large sums of money via YouTube

The best niches to start a YouTube channel include personal finance, blogging, software reviews, courses, reviews, etc

  • Solve a million dollar problem

The truth is that becoming a millionaire is all about solving a million-dollar problem,

Money is in solving problems; the more complicated the problem you solve, the more money you will make

So look at what is affecting the society where you live, what are the problems they are facing? Does the problem affect a large number of people? If yes that is the beginning of a business idea

  • Inherit a million dollars

Are you born from a multi-millionaire family? If yes this is your opportunity to inherit wealth when your parents die

But if you like me, chances are you will inherit nothing and you need to work your toes until you make to a million dollars

The bad thing with most children who inherit millions of dollars tend to mismanage the money and it runs out of the hands

The moment you inherit wealth, keeping it becomes a problem, so you need to learn financial literacy

Learn the basics of assets, liabilities, financial statements, etc

  • Develop a million dollar software

The software is a trillion-dollar industry that needs to be tapped into, software sells for hundreds of dollars

The good thing with software you create a product once and sell it to different people without incurring more production or shipping cost

The good thing with software is that people will continue to pay you as long as they are still using your product monthly or yearly

So do you have the skills to create software?

If know you can hire developers to work for you from fiverr or upwork

  • Invest in stocks and real estate for a long time

Investing is all about putting your money into something that will generate positive returns in the future

So the best investments to make you become a millionaire are real estate, stocks, index funds, health, agriculture etc

The earlier you start investing the more money you will accumulate over time

How many years do you need to become a millionaire?

By following the corporate world, you roughly need $100 invested every month for 40 consecutive years

This is why we recommend that getting a job is not the best path to becoming a millionaire, it will take you many years and still, you will have to incur taxes and your family expenses

Is it possible to become a millionaire by 30?

Yes, it is possible, all you need is to start a business that solves problems which your society is facing, the truth is you cannot become a millionaire by 30 when your own a corporate job, chances are low

To become a millionaire in 30 years, start a business that solves a million-dollar problem

What are the most common ways to become a millionaire?

  • Start a million dollar business
  • Take risks
  • Start saving as early as possible to enjoy the power of compound interest
  • Win the lottery
  • Use your talents
  • Become innovative
  • Marry a rich person
  • Steal a billion dollars
  • Create multiple income sources
  • Develop a millionaire mindset
  • Start a blog
  • Start a YouTube channel
  • Solve a million dollar problem
  • Inherit a million dollars
  • Develop a million dollar software
  • Invest in stocks and real estate for a long time
  • Start your company
  • Invest early
  • Get a high paying job
  • Live within your means

Best tips for becoming a millionaire

  • Stay away from debt
  • Make saving a priority
  • Invest
  • Live within your means
  • Set goals
  • Remove unnecessary expenses

Can I become a millionaire?

Yes it is possible, you only have to develop a millionaire mindset and commit towards your goal consistently over time, and you will become a millionaire

Conclusion

This marks the end of our article on how to become a millionaire in a year, has it been of value to you? Share your opinion with us in the comments below