The Practical Millionaire — What Does Being A Millionaire Truly Get You?

What does being a millionaire truly get you?

• No longer enslaved to a 9-5
• No one micromanaging you
• Live anywhere in the world
• Pursue your true passions
• Live off your investments
• Free from alarm clocks
Today we’re going to cover 6 practical ways you can reach millionaire status.

Let’s get into it.

1. Digital Course

Let's say you develop a digital course where you teach people how to program in Python.

You sell the course for $75. To reach $1M in sales, you'd need to sell 13,333 courses.

If you sold that many courses over 5 years, that's only 7.3 sales per day!

2. Online Business

Grow your X account to 250K followers (I did it!)

A conservative estimate is monetizing 2% of your account, that's 5,000 people!

With 5K customers, you only need to sell each one of them $200 worth of products or services and you're at $1M.

3. High Ticket Closer

Become a yacht broker. You'll make a 10% commission.

Smaller yachts cost 200-500K. For this example, we'll say you regularly close 500K yacht sales.

That's 50K per yacht, so only 20 sales and you clear $1M.

4. 401K Maxing

If you spent the first 5 years of your career making the max contribution, you'd have $112,500. If you didn't put in a single dollar more, you'd clear $1 million in 25 years.

Bonus: With a Roth 401K, your withdrawals are tax-free.

5. 401K Monthly

Not everyone can max out their 401K contribution right away, so let's look at a reasonable monthly contribution.

You contribute $500 at the start of every month. In 32 years, you'd have $1,093,810.

6. Inheritance

Some of us are lucky enough to be born into wealth. But approximately 90% of wealthy families lose all their money within 3 generations.

It's shocking, but I believe this comes from a lack of financial education.

So, if you are set to inherit your first million, you have a duty to teach yourself financial literacy. Don't be the person who squanders your family's wealth, be the one who grows it!

So there you have it!

6 practical paths to get your hands on $1M.

It can seem out of reach, but with a sound plan and good execution, I promise you it’s attainable.

Now, let’s get investing!