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What are the steps to achieve financial success and become a millionaire in five years?
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You would need a lump sum of 681K and return of 8% to end up with a million dollars over 5 years.. Or a mere 620K if you can earn 10%. I think it would take about 170K per year with a 10% return to end up with a millon dollars.. . So it is pretty difficult to do it in such a short time frame.
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Becoming a millionaire (in any meaningful currency) will involving getting into some kind od business. Sometimes people recommend getting involved in something you like, other times they say, do whatever it takes, as long as the result is worthwhile. I believe in the latter approach. (How many doctors became doctors because they liked to study? If they liked to study, they would have remained students.). . Start with the end in mind.. . They are three kinds of businesses around.. . You can start your own business from scratch. That usually requires a large amount of capital, a lot of skill and a lot of risk.. . The second option is to join a franchise. There the capital requirement is very large, the skills you might be helped with and the risk is lower because you have a proven(?) system. Once again, you get what you pay for, some franchisors are excellent, others are downright crooks. (Buyer beware).. . The last option is to join a network marketing company. The capital requirement is usually negligible compared to the other options. The risk is low, if you join a proven system, and the skill levels required are very low. Due to the nature of a network marketing business, the people you join have a vested interest in seeing you succeed. The only way that they can be successful, is if they can get other people to be successful.. . Beware of pyramids though: They are the people they ask a large joining fee, or a monthly membership fee for nothing in return. Research the available ones, and look for the one with the best training program.
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A guy I was in high school with actually did just that,became a millionaire in 4 1/2 years, He started over the road trucking and had his girlfriend as his road manager,she would book him jobs in the town he was going to so his truck was only empty when he wanted a day off.He worked at first renting his truck then bought it. Then he started saving for more trucks,now he is a Miltie-millionaire.
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win the lottery
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One of the ways to make a million dollars in the next five years is to own your own business. More people have made more money by owning the place where they work than any other way. How? By coming up with an idea! Not just any idea, rather, making something out of nothing and having it be used by millions of people.. For the fourth time I am saying; today many of the credit card machines are modem devices. A million dollar idea is to turn that machine into an IP device. Now that's an idea that can be used by millions of people each day.
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Become a real estate investor. The group of guys I work have set it up to become a millionaire or financially independent in a 1-5 yr time. contact me if you would like to know more.
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find something you love doing. research on the market if it's in demand. invest in advertising about your product or service. offer great customer service at all costs and find investors to back you up financially. good luck
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buy EZM and u will be fine
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Start with $999,995. Then earn one dollar a year (you can manage that, right?) After five years, you will be a millionaire.
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