So you want to make a million dollars

Let’s see:

So you want to become a millionaire, or maybe just wondering how likely are you to become a millionaire in your lifetime. Right or wrong? Is it not?

Well, let's get to work!

The steps to become a millionaire seem to be simple. While many people think high income in terms of working hard, it does not have to mean that at all, truth is to become a self-made millionaire, it just takes an ability to stomach some risk, some discipline, and a long term perspective - unless of course you want to jump on the fast track to wealth creation.

There are ultimately three ways to become a millionaire in your lifetime. The first method you know it: Fall into money by inheriting it or winning the lottery. If you have a bit of a corrupt mind you might also think about marrying rich or winning a big lawsuit.

The more sensible way is the middle class method, which is to live below your means, contribute to your 401k and other retirement programs, diversify, regularly invest to take advantage of dollar cost averaging, and stay in the game for the long run. This will get you to a million dollars. The earlier you start with this method, the more millions you will have at retirement (usually in your early 70s). This is the safest and surest method.

For those who don't have a lifetime to wait to make their first million dollars have the option of joining the fast track to building wealth. And this is accomplished with an entrepreneurial attitude, a millionaire mind, and an ability to create a vision and take action.

You can become a millionaire many times over with this method, but because the goal is not to make a million dollars in a lifetime, you would be building income streams that bring in multiple millions of dollars in a single year. For some people this is achieved passively, meaning that the money comes in regardless of their efforts.

Whatever method you choose, make sure you're happy with what you do, have a clear understanding of the pros, the cons, the rewards and the risks. Finally let's anwer the question, how likely are you to become a millionaire in your lifetime?

If you follow the habits and stick of an agenda of making money with the middle class method you can become a millionaire in about 30 to 40 years. Also, by taking into account that about 2.6 million people in America are millionaires, you have about 0.84% chance of becoming a millionaire and/or be classified as being in that group.