How to Make $1 Million In 5 Years

To Make $1 Million

If you are working 10 hours a day, then to earn $1000000 In 5 Years, you have to make $66.7/hourly / 667 a day / $16675 a month / $200,100 annually.

The best way to make it happen is to create a source/system that gives you $66.7 hourly passively.

Why Passive Source

Yes, most millionaires have at least 5 passive income sources/systems, which gives them a diversity of income and reduces the risk of any unexpected financial hit.

1. Hourly Rate

Write down what you are doing now or the skills that pay you. (also write the current hourly rate).

Let's Start

For example, if you are Video Editor, working for 10 hours a day (Monthly 25 Working Days), and your company pays you $3000 a month, that means your hourly rate is $12

What are the ways and side hustles where you can make thousands of dollars passively by using your current skills?

2. Side Hustle

Find Out The Way

Video editor can teach people on YouTube how to do this, sell online courses about video editing, provide affiliate link of editing software and product.

"The Internet Has Massively Broadened Career Possibilities"

naval ravikant

3. Create Distribution

Which means you can create a distribution on Instagram, YouTube, Twitter, TikTok, and Other Social Platforms where you can sell anything that levels up your followers.

$100 Form 10000 Fans

To make $1M, you need two things a helpful online product and distribution. So you can Sell a $100 digital course which costs you almost nothing and sell it to 10000 fans

4. Use Leverage

To make money while you sleep, you need a System that works for you. Buy tools, Hire people, and spend money on a business that can take care your 90% of work.

Image Source: Investopedia

Put your money at work. 

When you start earning money, use money to generate more money - Like Invest in Stock Market, Start Ads to increase your sales, and Buy smart peoples time so you can learn and earn more.

After creating a successful income source, you can shift/jump and make it another system in the next 6 months, which helps you to achieve multiple income sources.

6. Time to Jump