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How To Become A Millionaire Without Having To Work

Updated on October 3, 2011

Untill you want more from your life you will never achieve your goals,, they will always stay as dreams. When you want something and I mean really want something you will start do what it takes to get it. Remember when you was a kid and you really wanted that toy and you cried and screamed untill you got it no matter how many people were looking at you, you would continue untill you got it. Now this method won't work becoming a millionaire but it illustrates how much you have to want something to do what it takes to get it. If someone else has achieved what you want to achieve then it makes it all the more possible that you can get it also. Becoming a millionaire is a lot of people dream, but many do not actually try and figure out how they can ever achieve it, other than wishing that their lucky numbers come up and yet some don't even play! There are many books that have been written about the subject, that untill you seek a better life, will probably pass you by. By reading this hub you are already on the road to fulfilling your dreams. There are a few simple processes that you must take to achieve anything in this life, they are so simple yet so powerful. Seek and you shall find.

 A couple of years ago I lost my job and so did many others with the econimic crash. When this happened to me, rather than go out and get another regular job I started seeking how to get the most from my life as I knew I would never achieve it working for someone else spending 10 precious hours a day ( included commuting ) doing so. When your in a job it is hard to do anything else as you will have to fit everything else around working. Years will go by like they had done for me. It was only untill I was in a bad situation ( losing my job ) did I decide to do anything about my life. If you are reading this and currently working you stand yourself in much better stead than I did to start getting a better future but you must commit to wanting a better life and thats why maybe sometimes being in a bad situation sometimes is a good thing. Many of the worlds richest had some difficulty in their life and many will tell you it was a vital part of acheiving their sucess.

 I know I know you want to know how to become a millionaire without having to work but I must stress that just by me telling you this one simple example won't be enough. It won't be untill you discover the principles of acheiving anything that you will be able acheive this. The Books I have added to this Hub will be life changing for you as they have been for me. Now it wasn't untill I started looking to become a millionaire that I was introduced to this simple way to become a millionaire in my life time. This method has been around for many years before us and Albert Einsteen Put it best. " Compounding interest is the 7th wonder of the world ". Compounding interest will help you become a millionaire in your life time. The earlier you start the faster the results will become. If your a little older then you'll just have to put a little more in. Now I've written this Hub because this process could not only change the life of yourslef but also change the life of your children. Compounding interest requires no skill, minimum effort and does all the work for you. Watch the video below to get a sense of how powerful compunding interest is.

 Many people do not save, something that should be taught in school. So the sooner you realise the importance of saving and compounding the sooner you will be on the path to financial freedom. Now if I knew this when I got my first job at 16 and saved £250 a month which was easily achievable with living at home and continued to save that with a conservative 5% interest rate untill today I would have £34,732.53 with 9 years saving simply doing nothing other than that. Right now that would be a nice amount sitting in my bank account. Now lets say I did this for 10 years I would have £39,619.16. If I was to save £250 a month and not compound it with 5% interest each year I would have £30,000 so just by compounding it with a small 5% interest I have gained nearly an extra £10,000 For free! Now 5% is very conservative so lets say I use that £39,619.16 and invest it with a return of 10% interest per annum for the next 10 years, still saving just £250 a month, I would have a stagering £155,355.41 by the time I was 35. Just By Simply saving £250 a month for 10 years at 5% interest and for a further 10years at 10% interest. In its next year of saving it would accumulate £18535 in interest alone! Aged 36 I would accumulate over £18,000 in interest in one year just by doing nothing some people work all year to earn that amount.

It would take less than another 10 years before I became a millionaire. Once the numbers get bigger the jumps in money becomes a lot bigger. 10% Of 1 million pounds is £100,000. Do you think I wish someone would have shown me this when I was 16? YOU BET! Can I still achieve this now Ofcourse I can and so can you. Now this may be a long process but if you think of the time that has already passed you'll realise that it isn't that long and before you know it you would be enjoying your money. Remember the above calculations are based on a saving of £250/$250 per month throughout the entire saving with a low 5 and 10% return, at first saving this amount maybe tough when your younger but as you get older and you getter better jobs this will become a doddle. Their will be a knock on effect of having savings. You will also start to develope a different perception of money, if you had £25,000 in savings would you find it easier to charge more money for your services or go for jobs that are more money? You bet you would.

Once you learn the power of compounding you can apply it to many areas of life. You can also search for ways to earn more money and save more each month. If you found a sure fire way to earn £1 or $1 a day do you think it would worth anything? Repeat the process,method,technique 275 times and you will be earning £100,000 a year. There are many opportunies in our life today to achieve this so thats why TODAY is the best moment in time to achieve your goals.

 If the above inspires you I strongly, stongly, strongly recommend Wallace D Wattles' The Science of Getting Rich, you only have to read a handful of customer reviews and you'll see how life changing this book is.


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    • JP993 profile image

      JP993 6 years ago from England

      Thank you for your comment breakfastpop

    • breakfastpop profile image

      breakfastpop 6 years ago

      Great inspiration!

    • JP993 profile image

      JP993 6 years ago from England

      Thank you for your comment Justmakingmoney.

      This really should be taught in school I think it would captivate a lot of childrens minds and give them reason why to do well in school let alone have bigger ambitions and an insight of being wealthy. If the do well in school they will be able to earn more money, earn more money you can save more money.

      I wish I was introduced to this when I was a lot younger.

    • justmakingmoney profile image

      justmakingmoney 6 years ago from The Pearl of the Orient

      Thanks for this hub, it reminds me of what I practice and have taught my kids since they were as young as 4 years old. And they have now diverse investments and it is compounding indeed - even when my kids are at play or in school.

      This is the kind of wisdom that everybody should learn, I suggest, rather than rushing in to the stores with their credit cards during Black Friday.