Lets discuss how to build a million dollar net worth, starting from $0, in 10 years - Enjoy! Trade Bitcoin, Doge, and other crypto with low fees on FTX. Use my referral code GRAHAM and get up to $100 FOR FREE: https://ftx.us/partners/graham - Add me on Instagram: GPStephan
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The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://the-real-estate-agent-academy.teachable.com/p/the-youtube-creator-academy/?product_id=1010756&coupon_code=100OFF - $100 OFF WITH CODE 100OFF
HOW TO BE A MILLIONAIRE IN 10 YEARS:
ONE: You NEED to save as much money as possible.
As simple as it might be to say: without this part, the ENTIRE plan fails…and, when it comes to increasing your net worth, at the end of the day…it doesn’t matter how much you make…but instead, how much of that you’re able to save.
TWO: You ALSO need to make a lot of money.
Working ANY job that pays based on RESULTS or individual TASKS…your income will SKYROCKET, because NOW - hours no longer make a difference. Personally, I think sales are one of the most under-rated careers out there, because it often serves as a stepping to earning a higher income, while teaching you everything you need to know about time management, customer service, and efficiency….not to mention, it could also provide funding for just about anything else you want to do, later.
THREE: Realistically, you’ll also have to invest your money.
As an example, just consider this: If you SAVE your way to $1,000,000 in 10 years…you’ll have to put away $273, every single day - or, $8333 per month - to make that a reality. BUT…if you just INVEST that money, instead….you can get there with “just” $158 per day, or $4750 per month, while averaging an 8% return…or, in other words…you need substantially less if you’re consistently putting your money to work.
THE PRACTICAL STEPS:
First, cut back as many expenses as much as you possibly can.
Figure out the BARE MINIMUM that you need to survive, with some discretionary spending thrown in every now and then…and, from that point on- anything you make above that amount will be automatically invested.
Second, determine how you can make more money.
Perhaps look into switching careers, learning a trade, starting a side hustle, or starting a low-overhead business from home. The fact is, this isn’t going to be possible if you earn under $50,000 per year…but, the GOOD NEWS is that there are PLENTY of ways to make extra money, if you’re willing to put in the time.
Third, once you have enough money saved up - I would highly recommend you reduce, or even eliminate your entire housing cost by investing in a multi-family property.
This is where you buy a multi-family home, like a duplex, triplex, or fourplex, then live in one of the units and rent the others out. Typically, when done right, those other units will cover the entire cost of owning the building - and all of a sudden, you’ve got a free place to stay, while allowing you more money left over to re-invest.
And fourth, you can keep repeating that process every 2-3 years.
For example, banks allow you to get a low interest rate loan, as a primary residence, with up to 4 units - as long as you intend on living there for a year. That means, you can buy a cash flowing property - move in one of the units…wait for another one to come along…buy that, rent out the previous unit…and start the process over again, while gaining equity and cashflow at the exact same time.
At the end of the day, building up a $1 million dollar net worth is all about numbers - and, even though your spending tends to be the EASIEST to control and point you in the right direction - your income is the speed at which you’ll hit your target.
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
GET YOUR FREE STOCK WORTH UP TO $1000 ON PUBLIC & READ MY THOUGHTS ON THE MARKET - USE CODE GRAHAM: http://www.public.com/graham
GET MY WEEKLY EMAIL MARKET RECAP NEWSLETTER: http://grahamstephan.com/newsletter
THE NEW PODCAST: https://www.youtube.com/channel/UCMSYZVlQmyG8_2MkIKzg0kw
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://the-real-estate-agent-academy.teachable.com/p/the-youtube-creator-academy/?product_id=1010756&coupon_code=100OFF - $100 OFF WITH CODE 100OFF
HOW TO BE A MILLIONAIRE IN 10 YEARS:
ONE: You NEED to save as much money as possible.
As simple as it might be to say: without this part, the ENTIRE plan fails…and, when it comes to increasing your net worth, at the end of the day…it doesn’t matter how much you make…but instead, how much of that you’re able to save.
TWO: You ALSO need to make a lot of money.
Working ANY job that pays based on RESULTS or individual TASKS…your income will SKYROCKET, because NOW - hours no longer make a difference. Personally, I think sales are one of the most under-rated careers out there, because it often serves as a stepping to earning a higher income, while teaching you everything you need to know about time management, customer service, and efficiency….not to mention, it could also provide funding for just about anything else you want to do, later.
THREE: Realistically, you’ll also have to invest your money.
As an example, just consider this: If you SAVE your way to $1,000,000 in 10 years…you’ll have to put away $273, every single day - or, $8333 per month - to make that a reality. BUT…if you just INVEST that money, instead….you can get there with “just” $158 per day, or $4750 per month, while averaging an 8% return…or, in other words…you need substantially less if you’re consistently putting your money to work.
THE PRACTICAL STEPS:
First, cut back as many expenses as much as you possibly can.
Figure out the BARE MINIMUM that you need to survive, with some discretionary spending thrown in every now and then…and, from that point on- anything you make above that amount will be automatically invested.
Second, determine how you can make more money.
Perhaps look into switching careers, learning a trade, starting a side hustle, or starting a low-overhead business from home. The fact is, this isn’t going to be possible if you earn under $50,000 per year…but, the GOOD NEWS is that there are PLENTY of ways to make extra money, if you’re willing to put in the time.
Third, once you have enough money saved up - I would highly recommend you reduce, or even eliminate your entire housing cost by investing in a multi-family property.
This is where you buy a multi-family home, like a duplex, triplex, or fourplex, then live in one of the units and rent the others out. Typically, when done right, those other units will cover the entire cost of owning the building - and all of a sudden, you’ve got a free place to stay, while allowing you more money left over to re-invest.
And fourth, you can keep repeating that process every 2-3 years.
For example, banks allow you to get a low interest rate loan, as a primary residence, with up to 4 units - as long as you intend on living there for a year. That means, you can buy a cash flowing property - move in one of the units…wait for another one to come along…buy that, rent out the previous unit…and start the process over again, while gaining equity and cashflow at the exact same time.
At the end of the day, building up a $1 million dollar net worth is all about numbers - and, even though your spending tends to be the EASIEST to control and point you in the right direction - your income is the speed at which you’ll hit your target.
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice. Public Offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
I was thinking about how many millionaires spend money on frivolous things like Lambos, mansions, watches, designer clothes etc and I wonder how many could be billionaires instead if they just managed their finances properly
I'm worth 40 million after starting 15yrs ago. Goodluck
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.
With current rate of inflation everyone will be millionaore
Whoever's is reading this, I pray that whatever you're going through gets better and whatever you're struggling with or worrying about is to be fine and that everyone has a bright day ! Amen
Love this video. Classic Graham content!
What's up Graeme its guys here
Maybe do an ASMR video where you whisper stock options while crumbling up 1$ dollar bills. That would be more views from a different audience. Calm down everyone I didn't say destroy the 1$ bills and you can use play money if it's too much. Lol jk and ❤️ to all.
How to start with with 0 dollars. Have a high paying career 😉how to get rich? Just have money
I have done it using realestate development but its not enough. A million gives you a mediocre income.
Graham got lucky and was in the right place/job at the right time. What he did cannot be replicated, especially after the covid boom. Tell someone how to do what you did in 2022… oh wait, that can never happen again.
To some you might be feeling this might be out of your range but trust me just put in the work and stay consistent. I did the same thing in 2019. invested 1M then it 20X. ~$20M now. Life goal accomplished. My next milestone is: $200M. No, I am not joking.
You accidentally timed the mkt. perfectly LOL
Love how you broke everything down and couldn’t agree more! We’ve been on the same track for a while and can say with 100% confidence your steps work! Great video as always!
250k 2-3 unit buildings exist? Guess im living in the wrong city.
I am a loyal subscriber Graham. When you tell your story of frugality at the beginning of your empire, you describe it in a quick summary.
I wish you would go into detail on your sacrifices and your self denial. I respect you, but many of your younger viewers may not understand the willpower it took and how much effort you needed
thank you for this video!
Outstanding video Graham I love content just like this I myself went from -$50,000 in debt to a net worth of 3.5 million through real estate in just the last 10 years and I followed exactly what you described in this video
Nice.
I'd love a full detailed video on house hacking!!
So many bots
One day definitely working very hard everyday and on the road to becoming a millionaire one day great video Graham
Can’t wait to be like Graham ☺️manifesting ❤️
Clean up your comment section ffs
Graham, if I have $200,000 equity in my house , what should I do next? Smartest bet