Who wants to be a millionaire? Many people want to achieve this seven-figure goal and know that they can bestow this title on themselves. But is it possible? Even though a million dollars seems impossible, accumulating wealth is not as difficult as it seems. There are many ways to become a millionaire and build your fortune.
Which one you choose depends on what works for your particular situation. The path to becoming a millionaire is easy, but not easy. If it were easy, everyone would do it.
However, if you practice the following lessons, you will soon be joining the seven figures club. But before we get started, let’s talk about getting rich and not being a millionaire. And no, they are not the same.
What does it mean to be rich?
Many people equate being a millionaire with wealth. They want the lifestyle of the highest percentage of the population, equipped with sports cars and fashion yachts. Even though a million dollars is a lot of money, you need more to live a life of luxury.
Wealth is more than just having money. Wealth offers choice and freedom. This can allow you to invest in anything that supports your values, goals, and objectives. Learn more about how to create your own rich life.
Many millionaires live in normal environments and drive ordinary cars. In his book The Millionaire Next Door, Thomas J. Stanley explains the argument that most millionaires don’t hang out at country clubs or on their private yachts. Most likely they have a Toyota on the driveway rather than a Ferrari.
Most self-proclaimed millionaires get there working hard, saving their money, and investing. Every dollar spent on groceries, fancy clothes, or expensive cars is a dollar that you can’t use to grow your wealth.
Looking rich and being rich is not the same thing. In many ways, you are already rich. When you have a roof over your head, food on the table, and a steady income, you are rich.
Keep this in mind if you are aiming for a million dollars (or more!).
Here’s a practical way for an ambitious entrepreneur or investor to make seven-figure ($ 1million) year from scratch.
Even though forex trading is very risky, it is one of the easiest ways to make a million dollars a year from scratch. The truth is if you can effectively learn how to trade currencies, perhaps from a dummy trading platform, you can trade with minimal money and build it up to a million dollars in less than a year if you are careful and prudent.
In their commercial approach. So if you want to legally make a million dollars a year, learning to trade currencies is one of your best ways.
Invest in the oil industry
Investing in the oil industry is another practical way for a serious young entrepreneur or investor to legally make $ 1 million a year from scratch. There are many investment opportunities that an investor looking to make a million dollars in the oil industry can explore.
All you have to do is talk to a business consultant in the oil industry to provide you with the various investment options available to you based on your start-up capital. They will be happy to do it as long as you are ready to accept it. the risks involved and the ability to pay them your business costs and more. For example, one option for investing in the petroleum industry is to sell crude oil.
Invest in stocks and bonds
Of course, you should be aware that an ambitious investor can legally make $ 1 million a year from scratch by investing in stocks and bonds. All you need to do to achieve your goal is to raise sufficient initial capital (investment capital) and then work with a professional stockbroker who has experience in successful stock picking who can do quite well in the stock market.
You could make over $ 1 million if you were able to invest in the right stocks and bonds at the right time when market forces were positive.
Invest in gold
Another practical way for ambitious entrepreneurs is to legally make a million dollars a year from scratch by investing in gold. Over the years gold has become one of the most difficult forms of investment to break down on the market.
Gold value has the potential to always feel positive growth. If you are lucky enough to invest in gold at the right time when the market value of gold suddenly jumps positively, you will most likely make a million dollars a year if you are smart enough to invest capital.
Invest in silver
Much like gold, investing in silver is another practical way an ambitious business owner can legally make a million dollars a year from scratch. This is because silver also experiences positive growth from time to time. All you have to do is know the right time to invest in silver and the right amount to invest. Hopefully, if you get the calculations right, we’ll make a million dollars a year investing in silver.
Play the lottery
As silly as it may sound, one practical way to win a million dollars from the start of the year is to play the lottery. While you may not be under your control knowing exactly when you will hit a million dollars in lottery games, the fact remains that with any luck, you will most likely win over a million dollars in lottery games a year. Besides the many people who became millionaires overnight, some people won the lottery.
Invest in mutual funds
Investing in mutual funds is one easy way to legally make $ 1 million a year from scratch. A mutual fund is a series of funds launched by different retail investors with the same objective, interest rate, and investment philosophy, with the sole objective of investing in stocks, bonds, assets, other securities, and money market instruments.
The fund is managed by a professional fund manager on behalf of the investor. The good thing about mutual funds is that, like any public company, investors can choose to sell their shares directly to the public. If you are lucky enough to run a mutual fund, you have the opportunity to make over a million dollars a year.
Invest in a hedge fund
Another practical way to legally make $ 1 million a year from scratch is to invest in hedge funds. A hedge fund is a regulated mutual fund (a much broader set of investing and trading activities) that is normally open to a limited number of investors who pay performance fees to mutual fund investment managers who invest in the fund and generate returns.
The easiest way to make money while running a hedge fund business is to help your clients make more money. The income you generate is based on your efficiency. This is why most of the hedge fund managers use different investment strategies to get good returns for their clients. In other words, execution costs are characteristic of hedge funds.
Invest in real estate
If you’re looking for a way to make a million dollars from scratch within a year, one of your options is to invest in real estate. For example, you could buy a lot or facility in January and sell the same lot or facility in the same year and make millions of dollars with little or no stress. This is probably one of the safest ways to make a million dollars a year, especially when the value of the property or facility is high.
Start your diesel accessories business
Another practical way that ambitious business owners can legally make $ 1 million a year from scratch is by starting a diesel utility company. The truth is, if you want to make a million dollars from shipping diesel, you have to be willing to work hard and smart.
This is because there are other diesel deliveries out there and since you are just starting, you have to do whatever you can to land as many contracts. If you’re okay with this type of business, you’ll be sure to make millions of dollars in 12 months.
Start a real estate agency
Starting a real estate brokerage business is another practical way for an ambitious entrepreneur to legally make $ 1 million a year from scratch. Real estate agents (brokerage firms) typically receive a payment called a commission for successfully customizing a seller’s property to meet the buyer’s needs. So a sale or lease/lease can take place.
In most cases, the commission generated is shared with other real estate agents or brokers who play a role in ensuring that the property is properly sold or rented. For example, if you are lucky enough to sell a property that is valued at over $ 20 million, you will likely make at least $ 1 million from the deal, which is based on a 5 percent commission.
Become a government contractor
Another practical way for the inexperienced entrepreneur is to make $ 1 million a year from scratch by securing government contracts. If you are a government contractor and can get an irrigation contract with your state government, you can be sure that you are counting your first million dollars a year – especially if it is a contract that starts in and can end one year.
The good thing about government procurement is that you may not need to fund the project with your own money. You can act as an intermediary between the government and companies that do the work for you and still make millions of dollars or more a year.
Invest in future commodity markets
Investing in future commodity markets is another convenient way for ambitious investors to legally make $ 1 million a year from scratch. Although the commodity futures market is seen as a complex, volatile, and highly volatile market due to the uncertainties and associated risks, the potential returns are unmatched if you do your research and invest properly. You may want to ask what is “The Future Futures”?
Simply put, commodity futures are a contractual agreement to buy a certain product at a certain price and then sell that product at an agreed price within an agreed future date. In essence, you can plan to make a million dollars in 12 months investing in future commodity markets. This is a surefire way to make a million dollars a year.
Invest in a private equity fund
Another practical way to ensure that inexperienced investors make $ 1 million a year from scratch is to invest in private equity funds. The essence of private capital is to generate cash reserves that can be used to reposition the company to generate more profit or to help the company invest in developing new product lines and technologies.
The fact remains that the return on investment is very encouraging, especially when invested properly. The happiness of a company can change dramatically in 12 calendar years and this can bring in millions of profits.
Invest in natural gas
Investing in natural gas is another very practical way in which an ambitious entrepreneur can legally make a million dollars a year from scratch. The natural gas industry has been a major employer for many people around the world and will continue to be an industry in which multimillionaires continue to thrive. Although it takes a lot of capital to invest in this industry, if you consider the returns that most players in this industry get as a return on their investment, you want to do whatever it takes to have an investment portfolio in this industry.
Start being a car dealer
The dealer business is another practical way any ambitious entrepreneur can successfully make millions of dollars a year from scratch. If you start a car dealership in a high protection area or have the option of contracting out a company to delivery trucks, buses, or cars, you can make $ 1 million doing business stress-free. Unless you sell your car all the time, either offline or through an online auto shop, you are likely to make at least a million dollars, especially if you trade in luxury cars and more.
Start a venture capital company
Starting a venture capital firm is another practical way an ambitious entrepreneur can legally make millions of dollars a year from scratch. If you want to start a venture capital company, you must have certain skills and experience before starting this business.
This isn’t a recruiting business, but rather those who have cut their teeth and tried their hand at low risk, with few investment opportunities. If you weren’t told, starting a venture capital firm was like a danger. As a venture capitalist, you are expected to use the money from investors to fund entrepreneurs and their ideas.
Become a soccer spy/agent
Another practical way for ambitious entrepreneurs to legally make $ 1 million a year from scratch is by becoming a football spy/agent. You may have to work hard to find talented players and also bring them to the market in top European football clubs such as Real Madrid, FC Barcelona, Arsenal FC, PSG, Manchester United FC, and Chelsea FC and Bayern Munich FC and others. The truth is that if you are lucky enough to get these teams to recruit some of your young soccer talents, you will likely make at least a million dollars from the deal.
Take part in a Talent Show / Reality Show
Attending a talent show or reality show is another practical way to legally make $ 1 million a year from scratch. Much like sports betting and lotteries, this is another way for one to become an overnight millionaire.
As an example; If you watched the show Who Wants to Be a Millionaire? playing, you have the opportunity to answer questions that can earn you a million dollars. Likewise, if you are on a reality show or talent hunt that has a million-dollar prize for the winner. You stand a chance to win the show and earn millions of dollars richer.
Like lottery games, sports betting is another practical way to make a million dollars a year from scratch. If you are lucky enough to bet on sports, you can sleep well and wake up a millionaire. Betting is also one of the ways people can become millionaires instantly without stress. However, it is important to explain that this is very risky and you can lose all your money without making a penny because the power to take a break depends on luck, not your efforts.
Publish a music album
You may have heard of musicians who become instant millionaires but have just released hit songs selling platinum and even double platinum within a year. A great example is Adele, who currently tends to sell over 2 million of her hits.
So, if you’re looking for a practical way to legally make millions of dollars a year from scratch, one of your options is to get some music playing. It’s important to say that aside from your musical skills and a Midas touch for your music producer, you still need the fortune to make over a million dollars in one year from the release of your music album.
Keep the best selling books
Another practical way to legally make $ 1 million a year from scratch is to publish bestsellers. The fact is, many best-selling authors have made over a million dollars selling their books in just one year.
If you’re a talented writer and you’re looking for a practical way to make millions of dollars a year from scratch, one of your best options is to publish a bestseller. It’s important to make it clear that you need a little luck to sell at least a million copies of your book a year.
Started an export and import business
Starting an export and import company is another practical way for ambitious entrepreneurs to legally make $ 1 million a year from scratch. There are many things you can export from your country and of course many things you can import from other countries in your country. All you need to do is do in-depth market research and feasibility studies to find out what items you can export or import, which can produce the kind of returns you want.
Starting an ICT Business
Another practical way that ambitious entrepreneurs can legally make millions of dollars from scratch within a year is to start an ICT business. For example, if you are starting an ICT business and getting into business/fiber contracts/contracts across the country or region, you could make over $ 1 million from such a business. There are other areas in the ICT industry where an entrepreneur can make a million dollars a year. Make sure you explore all the opportunities available to make millions of dollars in the ICT industry.
Sales of medical equipment
In the United States and much of the world, entrepreneurs make millions of dollars selling and shipping medical equipment. The reality is that some of these medical devices can be very expensive, and if you can ship about a hundred devices a year, you will likely make millions of dollars. So, if you’re looking for an easy way to legally make $ 1 million a year from scratch, one of your options is to start selling and shipping medical equipment.
Network Marketing Business
You may have heard of people making millions of dollars in the network marketing business, especially those with considerable drawbacks. A network marketing business involves recruiting people to market a product or service and earning a commission and bonus from each brand sale. If you are a good network marketer and are looking for a convenient way to legally make millions of dollars a year from scratch, one of your options is to start a network marketing business.
Get a well-paying job
There are core professionals who earn over a million dollars a year in well-paying jobs. High-paying jobs can be in the oil and gas industry, banking and finance, chemical, aviation, and the maritime / shipping industry, and many more. So, if you are looking for an easy way to make a million dollars a year from scratch, one of your options is to get a well-paying job. Please note that you must have the necessary qualifications and relevant professional experience before you can acquire this as a professional.
Start a construction company
Starting a construction company is another practical way to make a million dollars a year from scratch. One of the most popular companies in the construction industry, of course, is registering and setting up a construction company.
One thing is certain: to survive in the business world of a construction company, you must not only know how to implement standard projects but also how to deal with important people. A decision-maker who can decide what projects to award and so on. So, if you are a civil engineer, civil engineer, or a related profession and looking for a company that can make millions of dollars a year, you should consider pulling in to start building a company.
Open the gas station
Another practical way that ambitious business owners can legally make $ 1 million a year from scratch is to open a gas station. Make sure your gas station/gas station network is well placed on a busy road so you can attract customers 24/7. That way, if your business projections are correct and all other business factors are in your favor, you can be sure that you will make millions of dollars.
Starting a law firm
Starting a law firm is another practical way to make $ 1 million a year from scratch. Attorney services are required in all parts of the United States. According to statistics, the United States has about 165,000 law firms and annual sales of about $ 180 billion.
This shows that starting a law firm in the US is indeed a thriving business as there is a large market for such companies and the industry provides many job opportunities for lawyers and other professionals. If as a lawyer you’re looking for a practical way to legally make a million dollars a year from scratch, your best bet is to start your law firm.
Start an e-commerce business
Another practical way to legally make a million dollars a year from scratch is to start an e-commerce business. As a budding entrepreneur, starting an e-commerce business is the best way to successfully start a business that can gain wide recognition with minimal resources. The fact that the Internet is a global village makes it easier for e-commerce companies to reach a wide market.
If you don’t have enough start-up capital to lease business in a strategic location, money for office equipment, and money for other startup costs, starting your own e-commerce business is the way to go. There are several ways to do business online. You can start selling your products or you can create a partner website with a functioning online shop that delivers to retailers.
Start a diamond business
Starting a diamond retailer is another convenient way for ambitious entrepreneurs to legally make $ 1 million a year from scratch. If you love diamonds and jewelry, you can make a lot of money if you just want to start your own diamond business. The diamond business is uncommon in most parts of the world but has a very high-profit margin. People who work in the diamond retail business will admit that they get a great return on investment.
Started a company to manufacture solar panels
Another practical way that ambitious entrepreneurs can legally make $ 1 million a year from scratch is to start a solar panel business. Solar panels are quickly gaining worldwide market acceptance simply for being effective and useful to most people. Solar panels are simple devices that convert sunlight into electricity and store it for use. There are many areas where you can use solar energy and that is why many inventions using solar panels (energy) are being strengthened.
Get into software application development
There are software developers who make $ 1 million a year just because they can create software applications that are widely used in all cities of the world. So, if you are looking for a practical way to legally make millions of dollars a year from scratch, one of your options is to start developing software applications. You may be lucky enough to develop a software application that generates sales worldwide. With this, you can easily make a million dollars a year from scratch.
Make the Best Selling Movie
You may have heard of a film that has sold over a million copies in just a few weeks of its release. This shows that a film producer can make a million dollars a year from scratch. So, if you’re looking for an easy way to legally make millions of dollars a year from scratch, one of your options is to make a top-grossing film. It’s important to make it clear that it will take you a little luck to sell at least a million copies of your book in one year.
Start an advertising and branding company
An additional and practical way that an ambitious entrepreneur can legally make $ 1 million a year from scratch is to start an advertising and branding business. Innovations in the advertising and branding industries are constantly evolving and new windows are opening for conventional and non-traditional advertising styles. Advertisers will do their best to pursue their target market. If you are lucky enough to land a good advertising and branding offer, you will likely be making millions of dollars a year.
Become a military contractor
Another way an ambitious businessman can legally make a million dollars a year is by becoming a licensed military contractor. As a licensed military contractor, your main role is to provide military equipment and equipment such as weapons, food, uniforms, gasoline, and others. You can also be hired to build facilities, design and build widgets, monitor specific issues, etc.
Start a biodiesel company
Starting a biodiesel business is another practical way for ambitious entrepreneurs to legally make $ 1 million a year from scratch. Indeed, recently, particularly in the US, awareness, and use of biodiesel has been increasing rapidly and easily because it is environmentally friendly and efficient when used in diesel engines.
These emissions are lower than diesel made from oil. Many investors are now embarking on biodiesel production because it has proven to be a better substitute for diesel and therefore is now produced in commercial quantities in the US, reducing imports and reliance on oil.
Started an oil and gas distribution company
Another viable way to legally make $ 1 million a year from scratch is to start an oil and gas company. If you can land multiple service contracts in the oil and gas industry, you will likely make a million dollars a year. The oil and gas industry is a money-making industry.
Start an amusement park
Opening an amusement park is another practical way to make a million dollars a year from scratch. When Walt Disney decided to build Disney® Land, most of the people who knew him never taught him that he would succeed in creating Disney Land. Disney Land is the number one place for kids and adults looking for parks to have fun. People travel from all over the world to pay hefty fees to visit Disney Land.
The truth is, any entrepreneur can become a business model for Disney Land in any part of the world and still achieve tremendous business success. So, if you want to make the kids have fun, you should consider creating an amusement park.
Start a real estate development company
One of the most profitable, creative, and attractive aspects of the real estate industry is undoubtedly real estate development. Indeed, developers play an important role in setting property prices. While this type of business can be risky, you only need to take calculated risks to succeed as a real estate developer in this industry. So, if you are looking for a practical way to make millions of dollars a year, one of your options is to start a real estate development company.
Start the intake label
Starting a record is another useful way to make millions of dollars a year from scratch. If you are an entrepreneur and you love music, one of the easiest ways to make money in the music industry is to start your record label. and the truth is that in no part of the world it is difficult to start your music label from scratch.
Become a Consultant / Franchise Broker
Another practical way to make a million dollars a year from scratch is to become a franchise consultant/broker. Being a consultant in any area of life means being found in that field. If you are good at research and have good business skills, you can become a consultant in any field of your choice.
If you are looking for a business and have at least the two basic skills mentioned above, consider starting your own business as a franchise consultant. The truth is that if you do manage to land tens of millions of dollars in franchise deals, you will likely get at least $ 1 million off the deal.
Selling arts (paintings) and handicrafts is another practical way for an ambitious entrepreneur to make a million dollars a year from scratch. This is especially possible if you sell dozens of expensive works of art (paintings) and crafts a year. So if you’re looking for a practical way to make a million dollars a year, one of your options is to start selling arts and crafts.
Invest bonds online
Another practical way to make a million dollars a year is by investing in bonds online. Anyone who intends to do any kind of business or investment is expected to be able to build their capital. Hence, if you wish to invest in bonds online; The first thing that is expected of you is the capital required to invest.
You may want to save to meet your desired capital, or you may want to raise resources through close family members and good friends. The amount you want to invest is up to you. Remember to set yourself goals and discipline yourself to save them before starting your investment.
Organize a high-quality training program
There are training programs that are quite expensive – especially the training programs for the best executives in the business world. So, if you are looking for a practical way to make a million dollars a year, one of your options is to host a high profile training program.
Start an oil spill cleaning company
Another practical way to make a million dollars a year from scratch is to start a polluting oil company. If you were able to close down at least a business or two a year to clean up an oil spill, you’d be sure to make a million dollars or more.
Start a crude oil brokerage business
The crude oil business is another practical way to make a million dollars a year from scratch. When brokering crude oil, only buyers and end-users of petroleum products need to be found on behalf of one or more of the large independent petroleum traders with whom you have entered into sales contracts.
(Call it the offline version of affiliate marketing and you’re right). Crude oil brokers are very profitable because they offer high potential and fast profits. Indeed, this is the best opportunity for ambitious wealth-builders to start companies that market petroleum products without investing capital.
Start a crude oil supply company
If you are familiar with the oil and gas industry, you know that moving crude oil from an oil field to a refinery is safer and more economical, especially if the locations are far apart.
So, if you are a large investor and want a business portfolio in the oil and gas industry that can generate at least a million dollars a year, one of your options is to start a crude oil delivery company.
Of course, this type of business is capital intensive, but the truth remains about turning money around. Before you can get involved in this industry, you must obtain the necessary licenses and approvals from the necessary government agencies before you can start lifting crude oil. It is an industry governed by pirate activity and crude oil bunkers.
Start a Real Estate Renovation and Sales Business
Last but not least, another way to make a million dollars a year from scratch is to start a business that converts and sells real estate. If you want to increase the market value of your property, you will need to hire a real estate conversion company.
The owner conversion company puts out a professional accent to enhance leads or building. So, if you are interested in starting a business in the real estate industry, one of your options is to start a real estate conversion business. This is a cool way to make money in the real estate industry.
Many steps to become a millionaire are not difficult. However, they require hard work and persistence. You will want to build more wealth than fantasy or mansions today. Get involved and watch your wealth grow over time.
The calculations behind building a million-dollar net worth are simple. However, the emotional side prevents many people from reaching the seven-figure character. You need to come up with a plan on how to make more money and make it work for you so that you can benefit from being a millionaire.