These Millionaires Turned $100 to $1 Million, Now They’re Sharing Their Investment Secrets
Imagine retiring comfortably with a million dollars in your bank account, wouldn’t that be a dream? It is easy to cook up fantasies of being wealthy and trouble-free than actually working on achieving your goals. However, growing your money and getting the fruit of all your hard investment labor isn’t impossible at all.
In fact, just $100 might be enough to get you started on your portfolio, and if you’re really wise about what you’re betting your money on, you might grow this sum exponentially to become a millionaire one day. Although it may sound like a fantasy, many self-made millionaires are living testaments of this and here’s how they grew their wealth.
For Kylie Jenner, pursuing her passion for makeup proved to be lucrative. Guide books would always advise you to follow your heart and do what you love. Although this may not apply to every situation, you can dip your toes and build on what you know best.
It’s not only the makeup maven that reaped rewards of going after what you really want, even Crush Empire CEO, Bryce Welker, followed in her footsteps.
Six years ago, Welker wrote Crush The CPA Exam Study Guide and hired someone for $100 to design the e-book. Since then, it’s been selling like hotcakes and Bryce claimed it had already earned him at least $100,000.
The bottom line is you need to use your knowledge and skills to your advantage because it will be easier and a lot more fun to turn your passion or skill into a viable business.
The author also pointed out that you can offer your book through affiliate marketing programs and work with websites that would help promote your content and boost sales.
“One man’s trash is another man’s treasure,” the maxim goes. VaynerX CEO Gary Vaynerchuk believes that if you’re good at selling things, you can start small with garage sales. Head on to one and look for underpriced items that you think would sell for more, be it action figures or stuffed toys.
Check on eBay for a similar product and if these have a large price difference, create a listing and sell it. The rest of your $100 may be used for transportation or shipping expenses.
As you would know, the profit margin for garage sales isn’t that high, so how do you make a million dollars from it? It all boils down to saving. Keep a small portion of the profit and pooling it in an investment fund will help you save up more than you’d think.
As for Gary, he was thrifty and didn’t go on vacation when he was in his 20s so when he reached 30s, he had a ton of money to invest, which eventually made him a millionaire.
Invest in Yourself
When you invest in a company, you have no assurance whether your money will grow or vanish into thin air. For sales expert Grant Cardone, it’s like a lottery, so he advises a more dependable option of investing in yourself because he believes that you can never lose with that. To do this, use your $100 to enroll in an online course or attend an event that could help you gain new knowledge and skills.
Unlock It! Author Dan Lok also echoes the same suggestion. He recommends using your $100 to learn new things, preferably high-income skills, like marketing, sales, or copywriting that you can easily make money from. Starting as a side gig, you can turn it into a full-time job.
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