Follow These 4 Steps To be Rich | How To Be Rich For Beginners #Best Education Page #Online Earning

Becoming a millionaire is often sold as a nearly impossible to achieve which is

why so few people ever achieve significant wealth however in reality

becoming rich is super simple now I'm not talking about buying lottery tickets

and wishing for the best however the method I'm about to explain is just as

easy if not easier to employ then buying a lottery ticket therefore in this video

I will share with you the easiest way to become a millionaire and if you're new

to the channel then hit the subscribe button below for more life-changing

content now I know what you're thinking if this method is so easy then why isn't

everyone rich the simple answer is that far less people than you would expect

know about the strategy I'm about to reveal which is unfortunate because if

you know how to turn on a computer you can literally become a millionaire now I

know this technique already sounds like it's some sort of scam but let me make

something very clear this is not a get rich overnight scheme in fact accruing a

significant wealth using this method will take many years but later in this

video I will share some tactics that will help you accelerate the process so

you don't end up amassing your wall so when you're 95 years old and can enjoy

it so what's the easiest way to become a millionaire investing the single most

crucial thing you can do to ensure a prosperous financial future is investing

and the sooner you start the easier it is to get rich now if you're like the

average investor you were probably skeptical of how reliable the market is

when it comes to keeping your investments growing year-over-year but

this method of wealth accumulation is tried and true over the last 100 years

the stock market has averaged a 10 percent return this type of return is

accessible to anyone that is relying on a low-cost index fund as their

investment vehicle mean that you don't need to hire some fancy money manager to

be able to achieve these levels of return like I said this method will

definitely make you rich but it won't happen overnight let's use an example to

illustrate let's say right now you're 25 years old and you decide to invest $500

a month in a low-cost diversified index fund if you do that until you're 60

you'd end up with 1 million one hundred and forty eight thousand four hundred

and eighty-three dollars allowing you to add your name to the Millionaire's Club

now I promise method was easy and I want to share with

you just how easy it is to set up this type of investment strategy in fact if

you have automated bill payments set up for things like your cable rent or hydro

then you've already got the skills and know-how to become a millionaire

investing in an index fund works in a similar way where you can set up an

automated deduction from your bank account to route the 500 dollars into

your investment account all you have to do is set up this account in the first

place and provide a voice check so the money can be transferred and that's it

every month your 500 dollars will be transferred from your savings account

into your index fund allowing you to be one month closer to your millionaire

lifestyle but what if you want to speed up this process and become a millionaire

sooner well luckily there are strategies that I will now share that will free up

your cash and allow you to make bigger monthly contributions so that you can

hit the seven-figure clubs sooner than you initially anticipated method number

one investing in your 401k in most companies 401ks are offered to employees

as a means for them to contribute to their retirements and when used they can

definitely help accelerate your path to riches this is because typical 401k

plans involve an employer's contribution where they will match part or all of the

money you contribute in short this is free money and I don't know about you

but I love free money so just how powerful is this method of investing

let's say you have a generous employer who will match up to 5% of your total

salary for every dollar you personally invest in your 401k if you are in

$100,000 then your employer is essentially funding your investment

portfolio with an extra $5,000 a year if you took advantage of this extra

contribution to your investments meaning that instead of investing six thousand

dollars a year or five mature dollars monthly you were instead investing

eleven thousand dollars or nine hundred and twenty dollars a month you would be

able to reach a million dollars in just over 23 years making you a millionaire

in your late 40s instead of at age sixty like the example I used earlier in this

video method number two tracking your spending

now that you have your investment account set up and you are making

monthly contributions you're on your way to becoming rich but in the instant

gratification world we live waiting multiple decades to become a

millionaire isn't exactly easy so another way to speed up this process is

to begin tracking your expenses diligently you may be wondering how

would this help your investments grow faster and it won't make the currently

invested cash grow quicker but it will allow you to find money you can use to

increase your monthly contributions for instance you may be spending $300 a

month on drinks and partying and while it's important to have fun what if you

could add $200 of that money into your investments while still leaving you with

play money to enjoy every month it may not be overly appealing at first

but when you crunch the numbers you may think otherwise

adding $200 to your normal $500 monthly contribution would speed up the time it

would take to hit the million dollar mark by nine years ask yourself am I

willing to trade a few nights out of partying for an extra decade of riches

the reality is that you should already be tracking your spending but if you

aren't then now is the time to get started

for the next month keep track of every single penny you spend from your monthly

rent payment to that dollar for a cup of coffee jot down your expenses in a

notebook or use personal finance software like mint to keep track of your

spending make sure to consider your automatic

payments and hidden costs to your monthly subscription and Netflix or bank

transaction fees are sneaky culprits that will drain your savings potential

every single month and a fancy apps aren't for you write down your expenses

in a notebook instead simply saying all your expenses written down in black and

white can be a revelation for instance you might realize you've been blowing

nearly $30 a month on ATM fees or $50 a month grabbing a snack at the

convenience store on your way home from work seeing how much these nickel and

dime expenses are costing you could be the wake-up call you need to diligently

assess your spending habits and use these funds to fast track your wealth

journey method number three unlocking cash now perhaps you're tracking all of

your expenses and none seemed reasonable to cut not to worry there are still ways

to unlock more of your income to use for investing the next strategy you can use

to unlock cash is by negotiating down your current set of expenses I will be

willing to bet that you've never tried to negotiate your monthly expenses like

your gym membership cell phone plan cable or even your credit

card balanced all you have to do is call the customer service lines of these

companies and explain to them that you were a valued customer and that you

wanted to discuss discounts or reduction to your current billing arrangement

companies are much happier to give you a discount than lose your business

completely as 80% of your money is definitely better than zero but this

technique only continues to get better not only does this mean you don't have

to lose any of the benefits but you can negotiate your cost with these companies

a few times a year meaning that over time you will start to see noticeable

decreases in your monthly bills and more importantly larger contributions going

into your investment account moreover by convincing companies to lower your

monthly bills you will have further developed your negotiating skills which

will come in handy when you go and negotiate a raise with your employer

like the monthly bills whether due to a lack of skills or confidence most people

never even attempt to negotiate their salary but this is another goldmine when

it comes to unlocking cash now if your work has been terrible the negotiating

probably won't get you very far but if you are a high performer then more

likely than not your boss wouldn't want to lose you and will be willing to bump

up your salary to keep you around even a 3% raised on a salary of $60,000 is an

extra $1,800 a year allowing you to increase your monthly contributions by

more than a hundred dollars a month which as you know will cut down the

years it will take to become a millionaire method number four building

new cash flow streams you've been investing consistently in

your 401k I've tracked every penny you spend and have negotiated down your

monthly expenses but still unable to contribute the monthly amount you desire

well these are honourable strategies for freeing up cash to invest with the truth

is that at some point you simply cannot reduce your expenses any further and

need to instead work on generating more income some quick wins when it comes to

earning more income include getting a part-time job or doing freelance work in

the past have done freelance working copywriting design and coaching and I

can confirm that it is definitely a viable way to supplement your current

income when I was freelancing taking on an extra project a month allowed me to

make an extra 300 to $500 a month which significantly increased my ability to

contribute to my investment accounts but as people use

say when I bring up the idea of freelancing what if I have no skills to

offer clients chances are that you have numerous skills to offer but you just

haven't taken inventory of what they are for instance if you're a good writer you

can offer to write freelance articles or proofread other people's writing

moreover if writing isn't your strong suit

you can offer to work as an administrative support for someone who

wants to offload simple tasks the reality is that there are thousands of

people who need assistance in their day-to-day lives and by identifying what

skills you have to offer you can supplement your income and lend someone

a helping hand another means of making money is by starting and growing an

online business since you will be investing for years to come it makes

sense to build a business over time that can help you increase your contributions

your online business could revolve around anything like selling software

physical products advertising or even coaching if you have expertise in a

particular area now obviously there's a lot that goes into creating a business

based on these models like getting traffic building an audience launching a

product or services but it's quite doable if you have the patience and

determination well I believe that working part-time or freelancing is

great to make cash quicker the potential for earning through an online business

is much greater due to the ability to reach people in large quantities for

instance if you were able to build an audience of just a thousand diehard fans

and sold them a product for a very reasonable ten dollars that would net

you an extra ten thousand dollars a year which one put into your investment

portfolio would dramatically reduce the time it would take to become a

millionaire so there you have it the easiest way to become a millionaire it's

now on you to start your own investing journey thanks for watching if you want

to go from the life you have to the life you deserve then hit the subscribe

button now

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