The so Call Three Easy Steps to Become a Millionaire

Want to know the three easy steps to become a millionaire? Check out the blog post title “How to Become a Millionaire in 3 Easy Steps” from Yahoo Finance. It’s a long article with detail explanation but basically the three easy steps are just discussion of three levels we need to work on. The first level is the time which we allowed to work on the million dollar goal. Second level is the amount of money we need to save. Third level is the method we invest. Again the examples and methods explained are based on US, but still there are things we can learn to reach the goal of becoming a millionaire.

The first level is the time. That means the time which we are allowed to pursuit money making opportunities and reach for a million dollar. Time is the one thing which we cannot afford to waste because when the day is over, it’s over. There is no turning back or buying time. That is why it is important that we plan and schedule so that we don’t waste our time. There is one very important question that you need to ask yourself, “How much time you need to become a millionaire?” Remember that life is always full of surprises. Sometime you have no choice but to spare some of your time for health, family and special incident. So stop wasting time and start working towards the million dollar goal.

The second level is saving. How much money you need to save in order to accumulate a million dollar? You need to actually calculate the figures base on your current income. Once you did the calculation, you’ll have a rough idea on how much money you really need to save. From this point onwards, you’ll start to think of how you’re going to get that kind of money. Basically there are just two ways to do it. We can either boost our income by searching for alternative money making opportunities or saving money or invest the money smartly with different plans. Thus this brings us to third level of how to invest. The thing about investment is about risk, return and time. As the goal is to reach a million dollar, we have to solve the equation that involves minimum risk, maximum return and shortest time.

Becoming a millionaire is not a dream. It is achievable if you understand your situation well and work on the solution effectively. The three simple steps provide a basic structure of how we should work on the goal of becoming a millionaire. No doubt there will be lots of questions arises when you start working on it. By the time you find all the answers, you’ll be very close to becoming a millionaire.

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One Response to “The so Call Three Easy Steps to Become a Millionaire”

  1. Marcus says:

    Yeah, I think it is achievable as soon as you really want this. I am not that much about the money, I have good and healthy family, so I feel quite happy.