How to Become a Multi-Millionaire

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It's very possible to become a multi-millionaire if a person takes the job of acquiring money and assets as a job, and not as a dream. Discover how to leverage money into good debt, such as real estate, with help from a registered financial consultant in this free video on credit and personal finance.

Part of the Video Series: Credit & Personal Finance
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Video Transcript

This is financial adviser, Patrick Munro talking about one of the important dreams in American that is sometimes unattainable for many about how to become a multi millionaire. It is very possible for an individual to become a multi millionaire if they take the job of acquiring money and assets as just that a job, not a dream. The goal is to save as much money as you possibly can and then take that money and leverage it into good debt. The good debt that you would leverage would be primarily real estate. First your own home then others and then when you put others, when you acquire other rental properties you put tenants inside those rental properties and they pay your mortgage for you. These assets over time many assets growing simultaneously will ultimately result in a lot of money down the road, you know as you grow in your retiring life. It is important to keep stocks as well as bonds and other instruments that you can keep and build those and allow them to compound as well as your real estate. The compounding interest of assets and stocks and bonds will ultimately over time turn into multimillion dollars if you keep your debt levels down as low as possible, only acquiring good debt as opposed to bad debt. This is financial adviser, Patrick Monro on how to become a multi millionaire.


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