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How to Make One Million Dollars

For some reason, I was taking a look at Del.icio.us, and I saw a link titled, How to Make $1M. Well, obviously, I thought it may be interesting. So, I clicked.


It was refreshing, because it was reinforcement. Basically, it is a hook, line, and sinker discussion on becoming wealthy. He starts off by listing easy ways to get rich (inherit wealth, marry into wealth, win the lottery, or win a lawsuit). Then, he steps back to reality and discusses a sure bet (put $5 per day into a 10% investment, and you will have one million dollars in 42 years). So, these are the two extremes in getting rich (Quick 'n' easy and slow 'n' steady). Finally, he discusses becoming an entrepreneur and short circuiting the slow 'n' steady in order to do it more quickly.

So, it hits home. Come up with a slow 'n' steady way to get to your goal (Plan A). Then, find some way to do it much more quickly and try doing this while still working on Plan A (Plan B). I have had this discussion with a couple of lawyer buddies of mine, and they had recently turned their Plan B into a business that seems to be doing very well. They took the McDonald's approach to learning a business and then starting one.

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Anonymous Harrison Says:

January 02, 2006 7:26 AM 

"(put $5 per day into a 10% investment, and you will have one million dollars in 42 years)"

This really a simple way for us to make 1 million dollars, however, it take us 42 years to do so. The problem is does 1 million can support our life in another 42 years? So I think we must add some more ways to make money while following this simple formula.

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