As I write this, I need to make one thing clear: I am not a millionaire.
But I want to be one. I’ve read books on wealth, books on money and money is basically a lifestyle choice that you make. It’s hard to get into it but mindset changes things.
I once read somewhere: “The average millionaire has at least 6 streams of income.”
I thought to myself, “Wow, how the fuck is that even possible?”
It actually is. It actually is and there’s so many possible things you can do that can make you a millionaire and it is all actually in your mindset. What you think is what you manifest and what you attract — so attract the right things and the right lifestyle.
After some intensive research on how to make more money/multiply your income streams, I’ve come to the conclusion that the following makes your wildest dreams possible:
- Main Income — This is your main source of income that pays the bills. This would mean your day job; your 9-5 job that everyone hates and wants to quit but they can’t because it pays the bills.
- Stocks — Stocks are the future. Robert Kiyosaki once said, “Why would you save your money while they keep printing money?”
Essentially, $1000 about three decades ago would’ve bought you a brand new car but $1000 now would buy you a beat up old car that won’t even run. Inflation never stops and it never waits for you. Investing in stocks grows your money with the market. It never goes back down and it is a great source of income — granted it takes 30-40 years for your wealth to finally show but when you’re consistent, you are growing old to retire without caring as much about a pension as the average poor people do.
A tip: Stocks do not count as your daily income/wealth until the stocks are liquidated, or in simpler words, in cash. Stocks often come in as well, stocks. They’re not real “money” until you sell off those assets but like I said before, stocks are better off held for 30-40 years because that’s where the money comes in.
What you invest in can be the biggest game-changer. If you had invested in Microsoft in the 90s/early 2000s, you’d be a millionaire today. Invest wisely.
- Real estate investment — this is the most passive income one can think of. Buying a house and renting it out, or buying a house and even renting out a room can make a difference.
A fact about real estate that I really enjoy telling everyone is that unlike stocks, when the market crashes (which happens at least once every five to ten years), real estate will NEVER stop. People won’t just move out of their homes just because the stock market crashes. You would lose millions from the stock market crash but when that happens, people don’t decide they don’t need to live in a house anymore. It is the safest form of passive income you can find but it is also the slowest because you would receive probably only $200 to $2500 a month but only pocket $50 to $500 after paying off your mortgage.
- Business — Creating your own home business is a “make it or break it” but if make it, you’d be your own boss but if you break it, you would lose everything you had.
Here’s a pro-tip: The future is about new ideas. Don’t come up with recycled ideas because when society moves forward, we look for new inventions. Old ideas slow down when people no longer use what you’re selling and you want an idea that is going to last you decades.
An example of old ideas — Toys.
Toys’r’Us closed down their last store recently because kids don’t play with toys anymore. Parents get iPads and iPhones for their kids on their birthdays now and as harsh as the truth may be, toys are an old idea. We want to move forward with technology and we need to keep up.
- Dividends — Dividends are closely related to stocks but only select companies pay dividends to their stockholders. You can do some research on them.
Dividends are paid every quarterly (most of the time but it is different for every stock) and it is usually in percentage of what stock of theirs and how much of it you’re holding. Sometimes you can be paid from $2 every quarter to at least $200 if you own more. Dividends are for the rich but there’s nothing wrong with getting an extra special $2 now, is there?
These are essentially the main sources of income one can have. There are way more, way way more and I haven’t talked about online advertising, cryptocurrencies, or even sponsoring. Instagram is also a good way to monetise your posts but we’re not going to go into that right now.
Like I mentioned before, wealth is a mindset. Following the correct Instagram account and hanging around the right people can change the way you think and it changes everything you ever know, including how you looked at life and people.
I once read a post on one of my favourite Instagram wealth pages which loosely said:
When you’re struggling to pay for rent and live the life that you want, don’t ask yourself how you can spend less money. Ask yourself how you’re going to make more money.
This post changed my whole perception of money and I never looked at it the same again. Wealth is perception and only the poor spend it on things that don’t make them money.
Spend your money on assets that make you more money, AND THEN spend your profits on luxury things that you want.
This is one of my favourite posts to write as of date because I get so pumped up talking about wealth and making more money, and I’d love to hear insights in the comments.