Making a million dollars involves 3 simple steps: Make money, buy assets, use money from your assets to buy more assets.
This article outlines how your money can make you a million dollars.
Within each step there is another link to an article. Click on each article to get a full understanding of how the million dollar money making process works.
How Money Works
Understand money. Money is a living being, it consumes, it multiplies and it dies. The better you understand this the easier it is to make a million dollars.
The life of money starts as soon as it enters your pocket. From here it can either grow, shrink or die.
Money grows by investing it. Money shrinks when it sits still, like sitting in a bank savings account. Money dies as soon as it leaves your possession, like when you buy TV's, Cars or expensive cell phones.
You want a million dollars, then understand how money works.
If you want a million dollars then make that your goal. Setup your money goals in small intervals. For example, your goal could be to earn $300 of passive income each a month by the end of 1 year.
The next year you could raise that goal to $600 passive income each month.
The point here is to set small obtainable goals. Making a million dollars is not that hard when you take one step at a time.
Make Your Money Live Long And Multiply
Think of every dollar as an employee that can work for you 24/7. Every time you invest it, you make more money. Even better, the cash keeps on growing and growing and you don't have to do anything.
Seek investments that turn a profit without you having to work. Things such as real estate, stocks, bonds, online books, or ebay are all excellent tools to making passive income.
If your money buys assets that make more money, you will certainly become a millionaire.
Start Investing Using Small Steps
Making a million dollars doesn't have to happen all at once. It is much easier to make a $1000 dollars 1000 times than it is to make a million dollars all at once.
Take small steps by finding investments that are easy to begin. One easy way is to buy stocks that pay dividends. This is easy and doesn't involve lots of money upfront. You can buy good stocks for around $20 bucks a share. This stock will pay you every year and will most likely appreciate in value.
Instead of buying pizza and beer that last a few hours, buy a stock that gives you money for a lifetime.
Other investment could include buying rental property. These are great tax shelters that provide great passive income.
See below in the resource box. There is an excellent article that teaches how to invest in real estate.
Follow This Outline
In a nutshell, cycle your money this way:
Get paid and then pay your bills. Invest whatever money you have leftover. Put some money into your savings and use the rest to buy money producing assets
After a few years you should have a significant amount of money in savings and in stocks.
Use the money you saved to buy bigger investments like real estate or a small business; something like a pizza shop would work well.
Repeat this cycle over and over. If you use your money to buy assets your are guaranteed to make a million dollars.
If you continue to buy money producing assets you will become incredibly wealth.
This is how you make a million or millions of dollars.
Tips & Warnings
- Think "Drips" every asset is one step closer to a million dollars
- Click on the links in the Resource section below. These are extremely helpful links that will help you earn a million dollars
- Photo Credit http://www.iandrinstitute.org/Quick%20Fact%20-%20Money.htm
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