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I watched more than 10 'How to become a millionaire' YouTube videos, studied 'How to make money online' for over 4 months, and came up with my own specific steps to become a millionaire.
Here are my 13 steps:
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Here are my 13 steps:
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1. Manage My Money
Find out how much money you have right now to see how many months you can survive without any income.
My investment budget: $24,992
My liquid budget: $9,678
My conclusion: I can live up to 7 months without any income.
Find out how much money you have right now to see how many months you can survive without any income.
My investment budget: $24,992
My liquid budget: $9,678
My conclusion: I can live up to 7 months without any income.
2. Make Money Work For Me
I already invested around 70% of my money into both the stock market and the cryptocurrency market.
Changing Ray Dalio's All-Weather Portfolio in my investing style: ETFs 25%, stocks 20%, long-term bond 15%, mid-term bond 10%, gold 10%, etc.
I already invested around 70% of my money into both the stock market and the cryptocurrency market.
Changing Ray Dalio's All-Weather Portfolio in my investing style: ETFs 25%, stocks 20%, long-term bond 15%, mid-term bond 10%, gold 10%, etc.
3. Sell Old Stuff
Now I'm unemployed, every dollar counts.
This is just a one-time thing and I already made over $100 by selling my purse, sneakers, and even shampoo.
Now I'm unemployed, every dollar counts.
This is just a one-time thing and I already made over $100 by selling my purse, sneakers, and even shampoo.
4. Affiliate Marketing
The reason why I want to start my journey with affiliate marketing is that I don’t need any products, it’s free, and I can use this skill on other income streams as well.
Trying to learn both 'Product Affiliate Marketing' and ' CPA Affiliate Marketing'.
The reason why I want to start my journey with affiliate marketing is that I don’t need any products, it’s free, and I can use this skill on other income streams as well.
Trying to learn both 'Product Affiliate Marketing' and ' CPA Affiliate Marketing'.
5. Passive YouTube Channels
Making YouTube videos without showing your face is becoming a trend in the “How to make money on YouTube” thing. For example, meditation music videos, animated storytelling videos, showing data with graphic charts, etc.
Making YouTube videos without showing your face is becoming a trend in the “How to make money on YouTube” thing. For example, meditation music videos, animated storytelling videos, showing data with graphic charts, etc.
When you reach a certain amount of subscribers with this type of YouTube channel, you can outsource everything from script, editing to uploading. So this can be your passive income stream once you set it up.
Make Money Matt(YouTuber) has 9 different YouTube channels.
Make Money Matt(YouTuber) has 9 different YouTube channels.
6. Print On Demand
This method is free, worldwide, and can be a great passive income stream once you set up. This market can be competitive as well, but it’s all about finding the right product to sell.
Recommended YouTubers:
1. Wholesale Ted
2. Ryan Hogue Passive income.
This method is free, worldwide, and can be a great passive income stream once you set up. This market can be competitive as well, but it’s all about finding the right product to sell.
Recommended YouTubers:
1. Wholesale Ted
2. Ryan Hogue Passive income.
7. Drop Servicing
Most people are very interested in dropshipping and this is very similar but you just sell the services instead of the products. So basically being a middle man of a service such as a video editing, translating, designing, etc. It can be any kind of service.
Most people are very interested in dropshipping and this is very similar but you just sell the services instead of the products. So basically being a middle man of a service such as a video editing, translating, designing, etc. It can be any kind of service.
8. Podcast
I haven’t done too much research on this one but I’m already planning a podcast with my best friend.
If you know any good Youtuber on how to make money on podcasts, please leave a comment for me.
I haven’t done too much research on this one but I’m already planning a podcast with my best friend.
If you know any good Youtuber on how to make money on podcasts, please leave a comment for me.
9. Pick One Thing
Having multiple income streams is great, but if I really want to be successful and become a multi-millionaire, I can’t jump around between so many things. I have to focus on one thing. So I’ll find my one thing and I’m going to be a specialist!
Having multiple income streams is great, but if I really want to be successful and become a multi-millionaire, I can’t jump around between so many things. I have to focus on one thing. So I’ll find my one thing and I’m going to be a specialist!
10. Write An Ebook
I’ll find one topic that I want to share the most and I’ll write an ebook about it. I already made money by selling ebooks in Korea. So if we compare the population, imagine how much money I can make when I write an English ebook.
I’ll find one topic that I want to share the most and I’ll write an ebook about it. I already made money by selling ebooks in Korea. So if we compare the population, imagine how much money I can make when I write an English ebook.
11. Online Courses
After I pick one thing, I’ll create an online course to share my step-by-step guide in detail and upload them on several websites. Like Udemy, Skillshare, and teachable.
After I pick one thing, I’ll create an online course to share my step-by-step guide in detail and upload them on several websites. Like Udemy, Skillshare, and teachable.
12. Real Estate
When I have some money from all the other income streams, now it’ll be time for me to flip some houses. It seems like a lot of people make money with real estate businesses.
Recommended YouTuber: Bigger Pockets
When I have some money from all the other income streams, now it’ll be time for me to flip some houses. It seems like a lot of people make money with real estate businesses.
Recommended YouTuber: Bigger Pockets
13. Tax Benefits
A lot of people overlook this tax benefit including myself. But apparently, rich people keep saying that we should study tax and get the tax benefits. Let's cut some tax expenses.
A lot of people overlook this tax benefit including myself. But apparently, rich people keep saying that we should study tax and get the tax benefits. Let's cut some tax expenses.
