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What is the best way to make $1MUSD in 5 years? |
So far all the investment advice, and things Ive read target the everyday American trying to make ends meet and focus mostly on retirement. None of these are for me, I want to start a business and invest. Thats a very generic goal -- but why for example invest in a ROTH IRA account $4000 a year when my goal is to have money in the relatively near future, and not 30 years from now.. I dont expect there to be a formulated way -- just an idea. what is going to give me the highest return on investment in the shortest amount of time? Thinking big numbers like 1 million in 5 years is a good start. If my math is correct it is only $200,000 thousand per year. Not bad, some people even earn that amount. Unfortunately, you could probably follow the Larry Flynt business model on the Internet and make a cool million in under five years. If you need to ask this question, stick with the tried and true. If anyone else had right answer, they would n't be wasting time here, they would be counting and using their money. You have to have money to make money. Go out and make some. 1M is a lot of money, most people take 20 years to amass that kind of value spread across real estate, savings, stock, etc. If there were a short cut (you could always write a book and hock it as "the quick way to get rich"...that always works ...selling the book, not getting rich...or start a church that sells eternal life. YOu will have to put some kind of unique spin on it to make it work. Good luck The BEST way to make money is to own your own business. More people have made more money by owning the place where they work than any other way. How? By coming up with an idea! Not just any idea, rather, making something out of nothing and having it be used by millions of people. |
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