How to make it to $1 million and never work again!
This post would be perfect for people between 18 – 40 years old single with no kids
If you live in a country where your currency has similar value to the United States dollar your first focus should be to make a million dollars whether it be by working or starting a business. Before you make a million dollars you need to create only 1 good habit although this method seems easy it’s actually the hardest part for most people and it’s the reason why around 7% of the people control majority of the wealth on planet earth. Want to know what the 1 good habit you have to create is? well it’s listed below:
- PAY CLOSE ATTENTION TO YOUR LIABILITIES
What stops people from gaining and maintaining wealth is excessive liabilities, liabilities are expenses that cost you money every month, usually these liabilities are SERVICE based fees take from your earnings everyday, every month, every year and many of these liabilities people bring on themselves. If you watch most of the rich people in the world you might notice that many of them don’t drive around in fancy cars, they don’t waste money on Prada and Gucci wear instead they maintain the lifestyle that made them rich in the first place.
Now for many people reading this, they’ll say I know some rich people that dress fancy and this and that however what you might not understand is the kind of money those rich people are using to purchase those expensive items.
Did you know that 1% of $1 Million dollars is $10,000. What this means is that if you went to a bank that paid you monthly interest of %1 monthly you would make $10,000 per month in interest payments which for most people would help them maintain a decent standard of living. However $10,000 for a common middle class millionaire wouldn’t be enough. Do you know why? It’s because most millionaires have excessive liabilities. It might surprise you that there are millionaires with car loans, Million dollar mortgages and lots of other liabilities that eat away at their millions every month!
So for the average Millionaire they would laugh it you if you said to them they could make $10,000 per month off of their million dollars because many millionaires will go through $10,000 in just a few days. Have you ever see how much a million+ dollar mortgage at even 3% could cost a person per month? Try $5000+ now we haven’t even talked about property taxes, food, gas, car loan debt, maintenance related to the car, insurances, going out with friends, entertainment, kids and a host of other potential liabilities. $10,000 is not enough for the average millionaire to live on.
However for most people it’s more than enough and what you should understand is that when $10,000 is not enough the $1,000,000($1 Million) WON’T BE SAVED IN THE FIRST PLACE! it will be used and that’s the real reason millionaires aren’t as rich as they seem.
In this day and age you can realistically work and save a million dollars, you don’t even have to take any risks you could even work a nine to five job however you have to pay close attention to your liabilities.
The strategy is:
- Save money
- Put your money in a reliable bank or credit union that pays you at least 1% interest MONTHLY!
- Watch your liabilities and let the interest you’re making on your money compound until you make a million dollars
- Live off of the million dollars for the rest of your life
- When you don’t have that many liabilities it will actually happen a lot faster than you think and one of the things I learned is that once you see money that yours it will inspire you to multiply it and it will also force you to watch how you spend the money you do have.
- If you’re not a good INVESTOR DO NOT INVEST! and don’t let some broker or slick talking sales man talk you into investing for faster profits everything in life comes with a price and most of the time the price is your peace of mind! If you’re not a good investor investing is like gambling and when it comes to gambling the HOUSE ALWAYS WINS!
WATCH YOUR LIABILITIES! WATCH YOUR LIABILITIES! Slow and steady still wins the race, governments worldwide fear deflation which is why governments globally do everything they can to put and keep people in debt. People in debt usually don’t make good financial decisions which helps businesses and governments to thrive off of the backs of the naive and hardworking people. Your money belongs with you, and I highly recommend that you safely spend other peoples money, spend the banks money it will piss them off.
The banks are suppose to pay you for holding onto your money not the other way around. When you get the interest payments use those interest payments to pay your bills don’t become a millionaire and spend all your money this strategy works so well that you might not even need to purchase life insurance because the Million dollars can bury you and you can leave money for your loved ones in the process.
Oh yea make sure you don’t tell people how much money you’ve saved your money is your business and nobody needs to know about your financial situation blend in and keep your mouth shut! One of the best things about being human beings and what separates us from the Animals is our abilities to lie, If you haven’t made it to a million then you should consider yourself in debt with no money!