So You Want To Be A Millionaire?
All content, photographs and text is the original work of Christopher Boswell this lens creator.
Can you make 10 good decisions over 5 years?
I bet most of you would answer YES! Good, so read on and I'll tell you a 10 step, 5 day or 5 year plan to make a million.
For the longest time, I wanted to dabble in the stock market. In my 20's, not one person in my circle knew how to play. So, my focus remained on other things, like drinking, and, well.... let's get back to the plan. A decade later, I got more serious, creating a "play" portfolio and tracking it. Many choices I made showed big increases, soon I wanted to know more. It had become clear that my capacity for seeing trends existed. After all, I had managed businesses, several times actually, now all I needed was a stake, some savings, a little cash, the plot thickened....
- Beautiful Cash Saving Woman
Rachel tucks some cash away for a rainy day or to make her first million!
The Master Plan
For the purposes of this story,
I'd like you to begin with $2,000 bucks. Don't get excited, we're just pretending, but, I'm very serious. It's the amount my first mentor suggested. Start saving now, no kidding, whoever said "it takes money to make money" was right, at least for this example.
The next step is to call a brokerage and open a trading account. This is very easy and there are many benefits you will learn later.
For me, I knew it was very important to get started, that is how I learn. It's a practicality thing for me, normally I find answers because the information is needed for the next step. I'm assuming most of you know the premise of stocks, you buy a stock at a low price and hopefully sell it later at a higher price. Later is relative, it could mean in a few minutes.
Let's look at a timely example in the next paragraph.....
Stock Investing Tips on Amazon
The Forward Thinking Zipcar
Alright, so now the meat of the plan. Perfect example, in real time. A few days ago, Zipcar who was trading at $6.00 in November announces they are being acquired. After 10 years of losing money and dumping millions into creating infrastructure to needed to offer hourly rentals in cities across the USA, a groundbreaking program. An industry leader in traditional rental cars is going to acquire them. The deal is for more than $12.00 a share and is illustrated in the chart above. Look at the big spike towards the right, it happened in one day! Your $2,000, just became $4,000 and you did it in 60 days with one decision! You have money left over for a celebratory pizza delivery and beer! Still with me?
Finanacial Education DVD on Amazon
Have a Bite and Read on.....
So, imagine, easy gain, you just have to find 9 more. Can you dream about what happens on the next double? You now have $4,000, and you invest it in the next stock, got any ideas? Maybe I do......oh yes, I know one you have heard of, how about this......
So, let's look at Netflix. The chart below shows them trading at $53.80 in September, and guess what, right, just three months later, they are trading at $98.98! You decide to call your broker or get online and push the sell button, it's close enough, I'm calling it your second double! You now have nearly $8,000 dollars and you just started this program. You have been in only three months and have just made two stock picks. Now, it's likely that you are jumping ahead, right? But, let me slow you down, it's all about decisions, slow is fast! Many people detour here and go do something a little foolish like, buy a car! If you wanna be a millionaire in this story, you can't do that! But I'll tell you what you can buy...maybe a safe would be in order, because your going to need it.
Netflix $53 to $96
UPDATE! Since writing this, NETFLIX has rocketed up ever further to $175.00!
Nearly four times the initial investment!
And now even further to $225.00!
Nearly 5 times where it was when I conceived this lens!
Amazon for Safes
Get a Safe for Storing What's to Come
Alright, so if you have been paying attention, you likely have some questions. One might be where to find these companies? How to know what will happen in the future? And, possibly others, it can get complicated, so start with what you know. Do you make solar panels? Do you work in a restaurant? What kind of mobile device do you carry? I have included some great links below that have good data on publicly traded companies.
Link List for Investing Research
Your 4th Trade
And your 4th trade doubling staying all in?
So let's speed this up a bit....
I've shown you it's possible, let's look at the math for the next few trades. It's about to get more interesting! Staying all in and doubling each time your trades can grow to...
It's just like upgrading your computer memory, one action, doubles the capability. Well, sort of like.
As you can see, your next trade makes you a millionaire and it's only your 9th transaction...
Where is the investment you ask, well, let me go see....
The Millionaire Trade
I'm going to go back in time for this one. As many of you may know the stock market struggled in 2009. We bottomed out and a monkey could have thrown a dart making a bunch of money. BEXP dropped to $1.19, yes there were a lot of tears for unsuspecting people who were not paying attention. But for the ones who were paying attention, the stock went from that $1.19 in March to $14.56 before the years end. So, let's do the math, if that could have been your ninth trade with $512,000. I'm sure many people made good money during this time, I was one of them. From $1.19 to $14.56 is a multiplier of 12.23. That means your $516,000 would have grown to.....wait for it...................................................Drum Roll Please!
Rich Dad Poor Dad Amazon
Robert Kiyosaki is a lucky man, he had two days, both teaching him valuable lessons regarding wealth.
Your 9th Trade
So, now what?
What could you do with trade number 10? What amazed me about this knowledge after finally acquiring it was the availability of the American Dream. If I would simply stop complaining and looking for what is wrong, allocate some funds, do some research, and take action, amazing things can occur. And at this level, you no longer have to stay all in, you can buy say a house, or an island before placing your next trade. I'll let you decide what to do with number 10 now that you are a millionaire.
So, I've played in two areas that have a similar name, the Stock Market, and Stock Photos. The next few modules of links explore some ideas for your research, and then some to my work in the latter, please do me a favor and take a look. Thanks for reading this, now go be great!