Ways to Make a Million Dollars

Nearly 10 million Americans were millionaires in 2006. They had a minimum of $1 million in assets, not including their main homes. Being a millionaire is undoubtedly a wish for many people. Fortunately, it's an attainable goal.

Invest your money. Investing your money in the stock market can be the quickest way to reach the million dollar mark. If you invest wisely and consistently, and you start at an early age, that is. You may choose to handle your own stock portfolio. Or you can hire a professional. Online trading accounts are popular because they can easily be opened and maintained from wherever you are.

Play the lottery. According to bankrate.com, 38 percent of Americans who earn $25,000 or less annually believe that winning the lottery is the path to prosperity. The odds of winning the Mega Millions, for example, are 1 in 135,145,920 if you buy one ticket. Not very good odds that you're going to make a million bucks this way. However, people do win lotteries every day, and there's no reason that winner couldn't be you (except the overwhelming odds, that is).

Marry for money. Although this may not make for the happiest and most fulfilling marriage, both men and women have sometimes chosen their life mates based on their financial standings for centuries. Obviously, financial security has to be more important to you than real love in this case.

Start a successful business. According to the "New York Times," the majority of Americans who have reached the millionaire status own and run their own businesses. No matter whether you sell a service such as business consulting, or sell a tangible product like car tires, a good business plan and sound management techniques will help you reach your goal.

Become a professional gambler. Even though gambling is a risky business, there are numerous people who have earned their fortunes in this manner. Professional gamblers typically play Vegas games like poker, black jack, slot machines and many other games of chance.

Use the old-fashioned method of earning a million dollars if you're not in a hurry to get rich quick. If your annual salary is $50,000, for example, by the time you work 20 years, you'll have made a million dollars. Unfortunately, taxes and living expenses will take a chunk of that money, so you'll have to work longer to actually net a million dollars.

Tips

  • People who become millionaires are goal-oriented and focused. If you want to make a million dollars, you must work at it every day.

Warnings

  • Beware of get-rich quick schemes. The Internet is flooded with these scams.

About the Author

Kayar Sprang has been a professional freelance writer and researcher since 1999. She has had articles published by clients like Kraft Foods, "Woman's Day" magazine and Mom Junction. Sprang specializes in subjects she has expertise in, including gardening and home improvement. She lives on and maintains a multi-acre farm.