How To Become a Millionaire in 5 Years

How To Become a Millionaire in 5 Years

, , , , uh, , hey! What'S up guys welcome back to the channel, welcome back to another video, if you're stopping by the channel for the first time please consider subscribing to my channel and while you're at it smash that like button for me, i really would appreciate it in today's video we're Going to talk about how to make a million dollars in five years now i know some of you guys. Don'T believe that, but i'm here to tell you it certainly can happen and we're going to talk about how to do that. But before we get into that, i want to ask you guys a question: what's the number one wealth building tool you have your ability to generate income? Is your number one tool to build wealth? The united states is the wealthiest and the most prosperous country in the history of the world, but 70 of americans live paycheck to paycheck and 67 of americans have less than 1 000 in savings.

Building Wealth is not about knowledge of money. Building wealth is about the behavior of money right. It'S your behavior and that's why seventy percent of our citizens here in the united states, live paycheck to paycheck and don't have a thousand in savings because of their behavior with money. There was a lot of people out there who had phds finance degrees, worked on wall street, been successful, business owners, smart people, a lot of knowledge but file bankruptcy every year, and then you look on this end. There are people who make 30 fifty thousand dollars a year with the right behavior with money and they're millionaires. Behavior with money was the number one reason i got to financial freedom in 20 years and i know a lot of y'all say 20 years. Man that's way too long. I i don't have time to wait 20 years to to get to financial freedom. All i can tell you is, if you have a better way to get there quicker, then do that. But what i found is people complain about 20 years, but they have no other way to get there any sooner.

So what they do is they shake the 20 years off? I'M not gon na. Do that and then 20 years go by and they're in the same position. They were 20 years prior and i know some people say well. You know if i save for 20 years and even if i get a million dollars, what is a million dollars going to Be worth in 20 years when i started investing in my 401k and my other investments 20 years ago, i could have said the same thing, But i didn't, i just: did it and guess what a million dollars is still a billion dollars 20 years later? My point is: let's not allow our fear to steal our financial future and i think that's what it is a lot of times when people make that excuse about whoa the value of money. A million dollars today is not a million dollars. 10 years from now come on, a million dollars is a million dollars most of the time. What that is, is people's fear stepping in and they rationalize why they won't change their behavior with money and start down that pathway of of saving a little bit of money.

At a time continuing to keep their expenses low as their salary increases, they keep their expenses low and they invest the difference over a period of time to build wealth. That'S the secret. There is no magical fairy dust that we can sprinkle on our head and then all of a sudden we're gon na be wealthy. No, there are no shortcuts. I know we hear a lot of stuff on youtube from a lot of gurus and a lot of people buy this course buy. That course, let me show you this. This is the way to go. You can get there in a year. You can get there in two years and again i'm not knocking that and i'm not saying you can't get to wealth in two years, but the majority of us - it's not gon na happen. That way. For us, we're gon na have to change our behavior with money. We'Re gon na have to live on less than what we make we're going to live on a plan which is a written budget and we're going to set some goals. We'Re going to have to make sure we stay out of or get out of bad debt situations, and then we're gon na have to have to systematically over time, save and then invest that money in order to build our wealth.

88 of the millionaires in this country are self-made. Only 12 percent of the millionaires inherited their money. So what that tells me there's an 88 chance. You can become a millionaire if you change your behaviors with money and not make excuses or not allow your fear to steal your financial future. Well, i did say at the beginning of the video that i was going to show you guys how to have a million dollars in five years matter. Of fact, i'm gon na show you four ways that you can have a million dollars. The first one is by saving and investing in the financial markets for twenty years.

At eight percent return on your money, You can invest twenty two thousand dollars a year for twenty years and you'll have a million dollars you'll be a millionaire. You can also do it in fifteen years. If you invest thirty, seven thousand five hundred dollars at a eight percent return on your money for fifteen years, you'll have a million dollars if you invest 75 000 for 10 years at an 8 return on your money, You'Ll have a million dollars and if you invest 150. 000. Every year, for five years, with the average return of eight percent on that hundred and fifty thousand year after year, you'll have one million dollars there you go guys. You got four ways: you can be a millionaire one in five years, one in ten years and 15 years and one in 20 years. You pick the one you want. The only difference between the four is money. You'Re gon na have to put more money in

If you want to do it in five years, if you want to do it in 20 years, you put less money in drop me some comments, guys. Let me know what you think. I'M curious to hear your feedback, if you're stopping by the channel. For the first time, please consider subscribing share the video and smash that thumbs up button. For me, thoughts become things you can see it in your mind. You can hold it in your hands. You guys keep chasing your greatness, never stop believing in yourself and i'll catch.