Whats the quickest way to make a million dollars? i will try anything legal

Discussion in 'Personal Finance Q & A' started by XenMoney, Jul 7, 2016.

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  1. XenMoney

    XenMoney Newbie

    There are a lot of people on this forum asking questions about making 100 to 1000 dollars. I thought I would ask something different. Whats the quickest way to make a million dollars? Like many people on this forum I have experienced poverty and I'm slowly getting out of this horrible position thanks to forums like these. I have used many of the ideas mentioned here to supplement my income and have paid off a substantial amount of debt. I know want to exit the rat race once and for all by making at attempt to make a million. I think everyone in their lifetime should try and find a way to make a million. So, if anyone has any ideas of resources please share them with me. Thanks in advance.
    Shobir and Simrin like this.
  2. Simrin

    Simrin Newbie

    The quickest way to make a million dollars would be to invent something. If you look at some of the richest men in the world like Bill Gates, Mark Zuckerberg and Larry Ellison they actually invented something like Windows, Facebook and the Oracle Server. If you have a great idea no one has ever heard of and you can bring it to life you should be able to make a million. The idea should serve a purpose to make people's lives happier, easier and more entertaining. One book I would recommend you read is The Millionaire Fast Lane by MJ DeMarco, it explains the whole process of becoming a millionaire and is certainly a resource you should have if it is millionaire status you are looking for. I have posted a video which on the Book which also summarizes how to become a millionaire

    Shobir likes this.
  3. Shobir

    Shobir Administrator Staff Member

    Admin Post
    If you know what you're doing the stock market is a great place to become a millionaire quickly. One strategy to become a stock market millionaire is to invest heavily in quality companies after a serious market crash. Instead of buying stock you buy options or contracts for differences which are leveraged 20:1 sometimes. What this means is that when the stock moves 40% up your derivative contracts will move up by 800% or ever more if short term options are used.

    This is very very risky and you could end up losing more than you invested which would result in a margin call and you would have to pay more to your brokerage account. But if you do your homework and make accurate predictions based on facts then you could become a millionaire very quickly.

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