10 Easiest Ways To Become A Millionaire

10 Easiest Ways To Become A Millionaire 10 Design An App It’s best to say now that designing apps is not the easy part of this entry

It requires extensive technical know how, which brings no guarantee of success In fact, less than a percent of apps created will benefit from any sort of financial success, losing the money they cost to make However, app creation programs have been developed to make the process easy to the average citizen Marketing data company Sensor Tower also found that total app revenue between Apple’s App Store and Google’s Play Store rose 35% in 2017, to almost $60 billion Large shares of this belong to low concept games like Angry Birds, worth around $8 billion at its peak, and Flappy Bird

The latter reportedly took 2 days to design, earned $50,000 a day and more than doubled the value of devices with it installed after it was removed from the app store So it’s rare, but two days can be all it takes to make your million dollar app 9 Win It Now, easy is a relative term In terms of price and physical exertion, winning the lottery is a criminally simple method for becoming a millionaire

From a $2 ticket, anyone from around 18 years and up, depending on your state or country, can be a multi-millionaire overnight, so why doesn’t everyone do it? Well, they kind of do In 2014, Americans spent $70 billion on lottery games, equating to more than $300 per adult in the 43 states with their own lottery As you’ll have guessed, this makes the odds pretty low Winning the Powerball or Mega Millions is a roughly 1 in 300 million shot In the UK, that number’s slightly nicer at around 1 in 14 million, but you can still see, it’s no sure fire strategy

The US average for Lottery millionaires in between 200 and 300 per year, and is around 350 for the UK, so perhaps not the best method on the list 8 Invest It’s not exactly the most glamorous option, but people who made their money through investments make up the second largest group on the Forbes Rich List So why doesn’t everyone do it? Well, while it’s relatively easy in terms of time and effort, you will need some money to get the ball rolling, and it’s by no means a no risk earner That said, there are countless sources to advise which stocks will go where, and reading the market is a skill can be honed

Although your odds aren’t terrible as is, with an average stock market return of over 10 percent between 1967 and 2016 From this, finance website The Balance projected a long term annual return of 85%, to calculate how soon stocks could earn you a million By this calculation, a 30-year-old investing $5000 dollars a year could be a millionaire by age 65 All hypothetical of course, but something to consider if you have a spare five grand

7 Youtube YouTube is by no means a financial certainty, especially now they’ve made it *ahem* a little harder to earn an honest buck But for a select minority, who have been embraced by the platform’s billions of users, advertising and other opportunities that accompany exposure have brought millions in revenue Youtube has been famously secretive about its creators’ earnings, so the exact number of millionaires can’t be clear But it’s enough that Forbes has a list dedicated to its biggest earners, topped in 2017 by gamer DanTDM with a reported $12

3 million that year alone This fame can also lead to alternative incomes, with numerous Youtubers kickstarting careers in film and music, despite varying degrees of talent Income varies based on the amount of ads, the clicks they get and a myriad of other factors, but as a free platform, there’s no reason not to try and be the next big thing 6 Inherit It If you’re watching this video for tips, this one may be worth tuning out, unless you already have a wealthy and generous relative

But as of 2014, more than half of all European billionaires and a third of US billionaires inherited their wealth, so it’s worth mentioning For every viewer in the millenial bracket, this looks set to improve further According to The Resolution Foundation, two thirds of people currently in their 20s and 30s are set to inherit some amount of money, compared to just 38 percent of the Baby Boomers born between the 40s and 60s

They added that, by the time this inheritance comes in, the accompanying tax could even have been halved The only downside is that you’ll have to wait until an average age of 61 to receive this money Although, even that is only because of the extended life expectancy of your parents, so best not to complain 5 Tech The tech industry is one of the fastest growing industries in the world, which would explain why the largest group of Forbes’ rich list earned their money through tech

Unfortunately, the large market and huge consumer demand is pretty much where this approach stops being easy Firstly, as you may have guessed, you’ll need a lot of technological know how, and even that won’t get you anywhere without a marketable idea Even with each of the above, the average tech startup takes 9 years and 5-8 rounds of funding to become a multi-millionaire tech firm But fear not, the idea doesn’t necessarily have to be yours! Banking on a tech startup can be a very lucrative risk if you believe in the product Joining a small, low-paying tech company and working hard to help it grow can see employees being rewarded with stocks that could be worth their weight in gold years down the line

4 Poker If you still have any assumptions that poker is about luck, this isn’t the method for you The game itself is by no means easy But given that it’s possible to make a million quickly, from the comfort of a casino, or even sat at your computer, there are certainly harder ways to get rich This is improved by huge perks offered to high rollers, to keep them in the casino, ranging from drinks to hotel rooms

These perks are obviously a sensible expense for the casinos They easily make it back from losing players, so you should never go in without money you’re prepared to lose But 2016 was the first year more than 100 players made $1 million or more in live tournaments Due to the constantly fluctuating earnings of poker players, it’s hard to discern exactly how many millionaires the game has created But this record implies it’s on the rise, with players able to earn around $800,000 a tournament

3 Collect As with the earliest youtubers, startups and stocks, getting in on the ground floor of something big can be a low cost, low risk way of making your fortune Although we can’t exactly offer tips, which is kind of the point Examples vary from more conventional means, like art dealers who bank on an up and coming artist, to less orthodox collections In 2016, for example, the world’s most valuable pokemon card was auctioned for $54,000, and certain first edition prints of the first Harry Potter novel can fetch the same amount

Being in the right place at a famous baseball game, you can catch a $3 million ball, and the barber to the next Elvis might also be able to $115,000 for a lock of their hair Unfortunately, your guess is as good as ours what will eventually be worth those figures to someone, but keep hoarding your fidget spinners, and you never know 2 Real Estate Real estate can seem like one of the more daunting approaches to earning your millions, and while it’s true that you’ll need some startup cash, it’s not as hard as it seems As an essential part of the economy, there are numerous loans to assist those starting out in property

Naturally, there are good times and bad times to get into real estate But this also means your assets can increase in value without you having to do much, except maintain them Even this cost can be alleviated by renting out the property, providing a steady second income, which can then be reinvested And it appears as though it may be a good time to join the market Despite recent increases, U

S interest rates are still relatively low on mortgages as of 2018 Although many predict a stock market crash on the horizon, and are waiting for the resultant low prices to make their move 1 Cryptocurrencies Since their inception in 2009, Cryptocurrencies have looked set to establish themselves as the next big alternative to our current financial system

At other points, they’ve also looked like they could die out any second In large part, it’s this uncertainty that makes cryptocurrencies such a lucrative business Cryptocurrencies are treated similarly to the stock market, but its value fluctuates far more erratically than stocks This increases the risk of investing, as shown by a ‘crypto-crash’ in early 2018, but it also improves the potential rewards For example, investing around $48,000 in Bitcoin early in 2017 would have made you a millionaire by the year’s end

Unprecedented amounts of people who invested early have become multi-millionaires It’s hard to confirm exactly how many, but bitcoin data tracker BitInfoChartscom estimates that the number is anywhere between 20,000 and 200,000 Again, cryptocurrency is extremely high risk, but it could prove the best get-rich-quick scheme of the 21st century So that was the 10 Easiest Ways To Become A Millionaire

Do you know any more? Which ones are you going to try? Let us know in the comments below and don't forget to like and subscribe! And for more from us, check out 10 Ways Cryptocurrencies Are Changing The World, on screen now

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.