How to Be a Millionaire

Regardless of where you go in the world, money is the basic universal measurement for being "rich", or becoming a millionaire. And it seems like everyone wants to be a millionaire these days.



1. Open a savings account! Having a savings account is one of the many ways where you can set your money up to work for you. Your initial deposit of money grows whether or not you make additional deposits by interest. Learn the different types of accounts, including accounts like IRAs.


2. Buy stocks! If you are gung-ho for individual stocks, you should buy stocks of the companies whose products and services you use or purchase. One of the best ways to invest in individual stocks is through an investment club; you may want to consider forming one with your friends.

3. Buy mutual funds. Mutual funds are really an investment of other investments. When you own a mutual fund, you actually own the securities (stocks, bonds, cash) within the mutual. With mutual funds, you are pooling your money with other investors and diversifying your investment.

4. Audition for game shows. Game shows earn their money by the audience, not the contestants.

5. Find a "system" that has been proven to make people become millionaires. The top five producers of millionaires today are: technology - internet marketing, direct marketing, home-based business, product distribution, and investments (stocks, bonds, real estate investment / development). Usually, the most stable and reliable forms of income would be from internet marketing, technology, and real estate, with internet marketing, and home based businesses requiring the least money to set up. Investments like real estate and stocks are usually quite risky and time consuming.

6. Find a mentor who has walked the walk and seek advice. Surround yourself with already-made millionaires. They can be found in several places, there's even a private online club where you can have a millionaire mentor personally show you how to make money in many areas online.

7. Win who wants to be a Millionare. If you don't know the answer to the question, just guess you have a 25% chance of getting it right, if you do know the answer, then say it.

8. Have Fun. When you become wealthy doing something you love, your life will be much better than if you were to do something you hate or dont care about. Make a smart decision.

www.wikihow.com