Anonymous
Anonymous asked in Yahoo ProductsYahoo Finance · 6 months ago

Are there fast and relatively easy ways(like investments or other special ways) for a person to become a millionaire?

9 Answers

Relevance
  • 2 months ago

    Yes have many very old very wealthy RICH relatives whom love you

  • Snezzy
    Lv 7
    6 months ago

    Look to what others have done. Real estate, especially carefully chosen fixer-upper situations, has worked for many. A well-known US President alludes to "The Art of the Deal" in a book for which he is the author. From what I have seen you need the eyes or perhaps the foresight that will allow you to see how you will sell your chosen property before you buy it.

    Look into what Dave Ramsey says, so that you can avoid some of the traps. Gain confidence in your own deals, and do not be intimidated by nay-sayers, especially your own family.

  • Amy
    Lv 7
    6 months ago

    Rob a bank.

    If there were any "fast and relatively easy" way to get rich, then everyone would already do it.

    The fast way is to get very lucky - inherit it, win the lottery, marry rich, etc.

    The easy way is very slow - build up savings over your entire lifetime.

  • Never
    Lv 7
    6 months ago

    Most can do it with disciplined saving and investing and living below your means but not fast. Over a very long time period depending on how much you invest every month. $500 a month over about 30 years should get you there.

    In a low fee S&P500 index fund

    .

    You won't get there thinking about getting rich quick & easy.

  • What do you think of the answers? You can sign in to give your opinion on the answer.
  • 6 months ago

    The ONLY fast way is winning the lottery.

    MOST lottery winners are bankrupt within 5 years.

  • Anonymous
    6 months ago

    Becoming a multi-millionaire is relatively easy through investing even for the "average Joe", but it's not fast. It requires a long time and self-discipline.

  • Edwena
    Lv 7
    6 months ago

    The fastest and easiest way to be rich is to have a special talent, and then develop a need that someone will pay money for that talent. If that won't work, you have to find and develop a need that somebody will pay you money for and you hire others to do that work. You have to be careful about that in hiring people who can do the work but not have the aptitude to be your competitor. If that won't work, then you have to have a skill that pays well and you live at a standard of living far below it. You invest that money saved and overtime it will become sufficient to provide for you. Of the 3, the one most used is No. 1, believe it or not. The special talent is being a really pretty young woman, sufficient to marry a rich man. The rich man is probably a No. 3. and spent his life investing in mutual funds.

  • Greg
    Lv 7
    6 months ago

    Not really. If there were, everybody would be doing it. You can win or inherit. If neither of those work for you, then get a job that pays well (get a degree in an in-demand field, or a good technical education in an in-demand field), get a job, work hard, save and invest.

  • Anonymous
    6 months ago

    A lottery win is the fastest way.

    For example, if you took ALL the money you have in the world and bought as many lottery tickets you could afford, this would be a gamble but your chances of winning would be slightly higher and you could be a millionaire instantly.

Still have questions? Get answers by asking now.