How to Make a Million Dollars

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Part of the video series: Careers & Workplace Environments

Summary: To make a million dollars, be very conservative with spending, manage debt so that money is saved each week and think about what opportunities would be needed to acquire wealth. Set monetary benchmarks to make a million dollars with help from a certified personnel consultant in this free video on making money.

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By Pat Goodwin
eHow Presenter

Pat Goodwin is a certified personnel consultant and a career transition consultant who has worked with hundreds of individuals over the past 20 years, exploring their career options....read more

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"Hi my name is Pat Goodwin with Pat Goodwin Associates and let's talk about how to make a million dollars. That's a goal that I would hope that many many people would like to achieve and I would encourage you if that's something you'd like to do to begin a business plan or a personal plan, a family plan of how could you achieve that in your career and in your work life. First of all I would encourage you to sit down and think about how could I get to the point of accumulating a wealth of a million dollars, the value of a million dollars whether that be in your possessions or your home, or your real estate, looking at how can you find an opportunity that you can make money and you can save money so in order to do that think sensibly and realistically about how would you go about doing that and visit with your family if you are looking at an entrepreneurship. Look at how can you find a business partner that maybe can help you get there but basically it is sitting down and thinking realistically about a business plan and what kind of business might you do in order to achieve that level of income or that goal of wealth. Saving, being very conservative with what you spend, being able to put away money more than what you spend, making sure that you manage your debt and your indebtedness to the point that you are able to save money each month, each week, then looking at your benchmarks about what you would like to achieve within a certain year, maybe the first six months, the first year, where might you put that for it to increase in value and then once you have that in place then you can take a look at what is it going to grow and at what point in time would I have the revenue or the amount of money growing to the point at a certain age where I would have equivalent to a million dollars. So it is a fun idea to have and it is certainly something that you can achieve with a lot of hard work and a lot of dedication and a lot of focus and then looking at it very unselfishly and thinking I've got to make sacrifices in order to save and in order to achieve the goal of making a million dollars. Thank you."