There’s an estimated 14,814,453 millionaires in America but this is no easy task.
We decided to compile a list of advice for you from those who have done it.
Here are 5 ways you can get closer to becoming a millionaire.
1. Multiple Income Streams
Jay Leno, host of “Jay Leno’s Garage,” told CNBC Make It that the best way to become a millionaire is to develop multiple streams of income.
“I had two jobs because I realized that was the quickest way to become a millionaire.”
He would live off the smaller check, and invest or save the larger check.
2. Live Below Your Means
“Many people who live in expensive homes and drive luxury cars do not actually have much wealth…many people who have a great deal of wealth do not even live in upscale neighborhoods” — Thomas J. Stanley
Don’t spend your money on liabilities, stuff that costs you money.
Spend your money on investments, stuff that makes you more money.
3. Don’t Chase a Job
Most people have active income. They exchange their time for money.
This is inefficient.
Since you have a limited amount of time, you’ll also have a limited amount of money.
Your end goal should be to earn passive income, income that requires little effort to maintain it.
4. Start a Side-Hustle
Chances are you have a job, and your salary is below what you envision for yourself.
I recommend you start a side-hustle.
If you aren’t happy with your current job, there’s always free time that you can utilize to start what could become a million dollar enterprise, or the investment of your life!
Invest into stocks. It’s how Warren Buffet made his fortune.
You don’t actually need too much money to do this.
Here’s how you can invest $500, the simple way.
You won’t see the money right away.
The path to becoming a millionaire is one that requires patience and faith.
It’s way prettier to work a summer job as a waiter and get instant money.
It’s way harder to put off the job and start a blog, or a YouTube channel.
Why? Because you won’t see the money right away.
These methods are not gonna work in a week, month, or even a year. They could work, it depends on your situation.
But I can assure you one thing.
You might not see the money now, but later, you will be the richest person in your region, and you’ll be driving your dream car.
If, and only if, you trust these methods and follow them with patience.