$0 to $1,000,000 (Step by Step Plan)
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People want to know how to get rich and how long it will take. in this video, I take you through how to become rich the simple long way. Enjoy!
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Million dollar status that is still the gold symbol million dollar status to become a millionaire have a million dollars in assets basically underneath you okay? What does it mean to have a million dollars.
What basically it means to have at least $1 million more in assets you have liabilities meaning debts and things like that out there, guys. So to get there and grow from nothing into a million dollars, how do you do it.
How long does it take things like that? Today, I’m going to show you guys exactly how long it will take you if you just do some simple steps, okay? And nothing in this video is like really complicated as far as like.
You need to become an athlete or a singer or start a big business, like those ways can be phenomenal. If you have that skill, you can start a business you have that belief in yourself, you have that work ethic, can you become a millionaire in a year or two or maybe even three years.
Absolutely, absolutely, guys, but I know for everybody, not everybody has that type of work ethic. Not everybody has that type of confidence in themselves. Not everybody has that type of talent. Okay.
So what I’m going to give you is a little bit longer term plan that pretty much anyone can pull this off, guys, almost anyone can pull this off. Okay, this is not a complicated thing to do to go from nothing to a million dollar net worth. Alright.
So first thing is like if you have any debts, like you need to eliminate those before you even worry about this, okay, you have debts, especially anything that’s above, let’s say, let’s say somewhere around an 8% interest rate.
If you have any debts at all, especially if it’s above an 8% interest rate, eliminate those immediately. Okay, those need to get paid off as soon as possible. That needs to be your number one focus right now.
Okay, your number one focus needs to be paying off those debts if you’re someone that has debts, okay? Don’t even worry about investing for right now. Just worry about paying off those debts.
And then we can go the next step. Okay, the next step is you’ve got to be in a position where you’ve got at least $10,000 per year to stick into invest specifically stock market investing, okay, and I don’t even mean you know, picking individual stocks like I do.
I mean, just like investing in an index fund or something like that, that tracks the market. Now, if you don’t have $10,000 per year, you need to get off this video and get your ass into figuring out how the hell you’re going to make an extra $10,000 per year, or cut $10,000 of spending out or something like that.
That’s where your number one focus, you need to have at least this amount, man, I’m sorry, if you don’t have at least $10,000 per year to stick toward investing, like, like, you need to get on it man.
Like, unless you’re super young, like if you’re like a high schooler and you’re watching this, like I understand, okay, but if you’re like a 20 3040 year old adult, and you don’t have at least this number, you need a beyond that right now. Okay.
You can, you know, start something with personal branding, you can start a side business, you can start a full time business, you need to try to get a better job, like you need to make whatever moves you need to make.
This needs to be your number one financial focus in life, you’ve got to have at least $10,000 per year to invest. Okay? That’s not a big amount of money. Okay, that is not a big amount of money at all. Okay.
You know, I know people that hell I did more than $10,000 per year at 2122 years old. Like, if you’re an adult, like, like, figure it out, man. Like it’s not complicated. Go check out my passive income ideas, videos, get off this video right now, because you don’t even belong here, man.
$10,000 per year, okay, let’s break that down. That is 800. And maybe $30, you have earned $830 a month, okay? $830 per month, that’s not a lot of money, guys. $830 per month, you’re gonna need or we can break that down even further.
That’s around $195 ish, somewhere around $195 per week, alright, broken down. Or we can even go to two a day, which a day it would be somewhere around 26 $27 per day. All right. Those are the numbers.
This is a day. This is a week up here. And this next one is a month. All right, this one’s a month, and then this one’s per year. All right. So those are the numbers, okay, you need to figure out like how you get to this number, if you’re not already there.
Hopefully, if you’re still on this video, you’re someone that’s making $10,000, you know, at least $10,000 that you can put toward investing per year. That’s a big focus there, guys. Now, if you can put more money than this, then that’s phenomenal.
Like if you could do 20,000 a year 30,000 40,000, like the numbers are gonna start to add up real quick for you. And you’ll get to that million dollar status and a much quicker time. But I’m just saying like $10,000 like that needs to be the focus of every single person financially.
You got to find a way that you get to a place where you’re making at least $10,000 of extra money that you can put toward investing per year, it’s $833 a month, guys, that’s not a lot of money at all. Okay.
We’re not talking about let’s put $100,000 per year, we’re not talking about let’s put, you know, $200,000 per year in savings. Like if you got that kind of money, great, but I know that’s kind of unrealistic for most people.
$10,000 is a realistic amount, okay, so what you’re going to need to do, you’re gonna need to invest this $10,000 Okay, into probably an index fund something just stock tracks the stock market, stock market on average goes up around 8% per year, some years it goes up way more than that.
Last year, I think there’s my stock market went up 20 something percent. Some years it underperforms that amount, some years, it won’t go up at all some years it goes down. Obviously, if we are in a big recession at this particular time the stock market will go down, it just depends on rain.
So what you need to do is you need to put a $10,000 in the stock market. All right, and what you’re gonna do is, you’re just gonna put 10,000 more dollars in the stock market each year. Alright, so let’s say you start this at 20 years old.
As you go down the list, you’re gonna see the numbers start to accumulate, they start to get bigger and bigger. This is what we call the compounding effect, because as the numbers get bigger, they get compounded at another 8% per year, another 8% per year, and the numbers start getting real big, real fast.
So by the time you hit year 28, you’re a millionaire. Okay, so basically, meaning if you’re you start this plan at, let’s say, 20 years old, at 48 years old, you’re gonna more likely be a millionaire, if that.
And that’s just if the market goes up on average, 8% per year, okay. And once again, if you can get to a place where you’re investing a lot more money than 10,000, which hopefully you can, as you get older.
And you’re hopefully making more money in your 30s, and 40s, and whatnot, like, those numbers are gonna add up real quick. But just assuming you did that 10,000, you know, each year, then you’re still gonna be at a million dollar status by age 48.
All right. Now, if you can, you know, pick that up a bit, let’s say you get a 16%. So let’s say you double up, let’s say you’re actually an individual stock picker, you’re very disciplined, you actually put in the work ethic.
And let’s say you still only do the 10,000 per month, then by age 39, assuming you start at age 20, at age 39, you’re going to hit million dollar status $1.1 million at age 39. But then looking at what you would actually be at a year 28.
So you’re at 40, you know, 48 years old, then at that number, you have $4.5 million, okay, versus, you know, the previously, if you just got 8% per year, you’re at a million. So the numbers are dramatic.
Let’s go all the way down to the bottom there at year 38. So assuming you, you know, start investing in your 20s. And, you know, you invest all the way up until you’re 58 years old at this point in time, which by the way, in the future, like, like even now, 58 years old is not old. Okay.
Nevermind, you know, our generation as we get older and whatnot, 58 is not old at all, look at that, you’d have over $20 million, okay, $20 million at age 58 versus $2 million, if you’re getting an 8% gain.
So what you’re going to find is, you definitely need to focus much on how can I put more money into investing? And how can I get better gains, because those are gonna amp up things in a big way for you, okay, if you can, you know.
Stay disciplined, invest long term value, invest in those things, and you can get a better return than what the market does on average per year, then you’re going to be looking real good. And if you can put more than $10,000 per year, like those gains are going to get.
You know, accumulate way faster as a compounding effect. If you’ve never played around with the compound calculator after this video is over Google compounding calculator, and go ahead and you know, mess with some numbers and whatnot.
Well, what if I put $15,000 per year? What if I get to a place where I couldn’t put $20,000 per year? What if I get, you know, a 20% return per year or 10%? return? How does that change things over the course of time, and what you’re going to find is the numbers are dramatic.
Something you got to keep in mind, the majority of Warren Buffett’s wealth, you know, like Warren Buffett, I don’t think he was even a billionaire. I don’t even think Warren Buffett was a billionaire until he was like in his 50s or 60s or old he was still super rich by any stretch of the imagination.
I don’t think he was a billionaire until he was like 50 or 60 years old. And then all sudden, the numbers just start getting bigger and bigger analysis on the guy’s worth, you know, he’s given away so much money, it’s disgusting.
And he’s still worth I think 80 or $90 billion, or some insane number guys. So as the time ticks on and as those numbers compound you get there. And once again 8% return that’s just like tracking the index fund.
Like there’s nothing complicated about that. Okay, you can do that. And hey, age 48 year year, we’ve got a million dollars in the bank, just the big focus should be like like, how do you get to more than $10,000 invested per year you can get to that place guys and you’re gonna hit million dollar status.
And our real quick amount of time so anyways, I hope you guys really enjoyed this that’s how to go from nothing to a million dollars. Like I said $10,000 per year and just get those gains.
It’s not complicated guys it’s really not a complicated game people like to I’m trying to make it out to be it is complicated if you want to be a millionaire tomorrow, and you got nothing really though now you want to be a millionaire next year.
Yeah, you’re gonna need some talent and you know, be in the right thing at the right time and all those type of things. Yes, and you can still do it. I’m just saying like, this is like the easy plan.
I guess you could say the one that’s not complicated that you don’t need much. You don’t need any talent to do that to save $10,000 per year and get 8% return like there’s no talent there’s no work ethic like you don’t even need work ethic or talent to pull that off guys that’s easy peasy right there.
So anyways, hope you guys enjoyed this. As always, make sure you follow me on Instagram link down there in the description. Thank you for watching. Have a great day.