When talking to Stone, I got to know more about his background and what’s even more fascinating is that he went to school and is a mechanical engineer by trade who started an engineering firm called Treadstone Performance Engineering that still exists today. Starting an engineering firm is pretty different than being an online marketer or influencer.
A great many people aspire to become a millionaire, but not so many people are pushing themselves hard enough to reach that particular goal. In a world where being a billionaire is now the new target for the rich, becoming a millionaire is a real possibility for many an average Joe, and it mostly comes down to good management, sensible thinking and occasional calculated risks.
Many people build wealth through the process of serving others and getting paid for that service. Consultants, restaurant owners, plumbers, and other similar vendors see a need and provide their own services in exchange for pay.
Thankfully, I knew what I didn’t know, so I invested heavily in those things. I’m not a big risk taker. But I do believe in calculated risk. After all, I am my best asset. My top priority is myself or my business.”
This is to create a sense of urgency in YOU the potential buyer in hopes to make a hasty decision. However if you check back tomorrow or months from now, you will oddly see those 7 spots still remaining.
Work toward $1 million a year in revenue backwards. If you want your business to earn $1 million a year, that means you must make $83,333 a month, or $20,833 a week, or $4,166 per business day. That is a lot of money to earn every business day, but what new products or services could you add now that could possibly earn that much within one to two years? Think in terms of leverage, developing systems and residual passive income streams. Every minute of time you spend should be seen as an investment.
Your balance would easily grow to the $1 million mark before you are 45 (it would only take 22 years and 3 months, to be exact). Add to that a home you buy and live in for a long time, and your net worth would be well over the million dollar mark, long before retirement.
So consider this strategy: In each ETF you trade, build a $62,500 position, which would represent one-eighth of your portfolio. A 20% gain on the position would score a profit of $12,500, boosting your portfolio account by 2.5 percentage points. Accumulate 40 such winning trades over time, and you’ve netted a half million in profits, minus your trading losses and commissions.
I became a millionaire by investing in real estate. It can definitely be done in almost any market. The question is are you willing to spend the time to learn what you need to know? Are you willing to make whatever personal financial sacrifice is needed to get things going? The answer to these two questions for most want-to-be investors is no.
If your employer matches contributions (and the vast majority of large companies do), you’ll have an even better shot at reaching the million-dollar milestone. If the same 30-year-old earns $60,000 and contributes 10% of his salary to a 401(k) plan with a 50% company match of up to 6% of pay, by age 65 he will have nearly $1.6 million.
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