Project Self Made Millionaire: Update I

I think these should become more regular, but I’ve been doing a lot of reading/interviews/research on this one.  The book I found most helpful was: The Ten Roads to Riches: The Way The Wealthy Got There And How You Can Too.  These are pretty much the only ways people become millionaires:

  1. Start your own business
  2. Become CEO of an existing successful company
  3. Hitch to someone you believe will be really successful and make you rich in the process
  4. Become a celebrity and turn it into wealth
  5. Marry Rich
  6. “Steal It”- meaning sue someone I think
  7. Use other people’s money to make more money
  8. Invest in future revenue streams
  9. Make money through land
  10. Save a lot of money

I thought it was a decently exhaustive list.  I didn’t really even understand a few of them but you can pick up the book if you want.  It’s a…weird read.  The guy has a writing style all his own I must say.  Anyway, for various reasons I pretty much narrowed it down to start your own business.  The other ones seemed more complicated.  I feel like I have to make money somewhere, and I can either start through a job which I have savings and then invest it wisely and well, or take a chance and start your own thing.  For various reasons, I didn’t really consider the other options (although they are pretty good ones).

I did give this a lot of thought, and to me, right now, I feel like I need to take the chance and start another thing.  Mostly because a) it’s the only thing I know b) I’ve already made so many mistakes it HAS to be better the second time around and c) that seems the most interesting.  I also figure I’m still decently young, few responsibilities, and that’s not going to be the situation forever.  May as well try this now.

 

So now I know the how.  Next post I want to get down to the nitty gritty of the mechanics of this.

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