How to be a Millionaire in 10 Years (Starting from $0)

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what's of you guys it's Graham here so

let's talk about something that probably

most of us want to achieve at some point

and that is the milestone of becoming a

millionaire and I remember growing up I

wanted to achieve this and I heard the

term millionaire and I imagine some rich

businessman with like a convertible red

Corvette parked in front of a mansion

that is right on like the golf course

and that's something that I just wanted

to achieve at some point in my life no

in reality becoming a millionaire is not

living in a beachfront mansion playing

golf all day instead it's sitting in

your garage making YouTube videos on a

Saturday at 5:00 p.m. living in a duplex

and driving a ten-year-old Lotus that

you bought used and I realized by now

you're probably asking yourself wait a

second Graham how can I have free time

on a Saturday at 5:00 p.m. to make

YouTube videos and live in a duplex and

buy a used Lotus - and you know what

that's a really good question and we

should discuss this and I say this as

basically someone started off with a few

thousand dollars pretty much whatever I

had saved up from working throughout

high school to being worth over a

million dollars by the time I was 26 -

now in the multi-millions and all of

that without rich parents and without a

sugar mama so let's break this down and

explain some of these strategies that

you can replicate as well to go from

being worth nothing to being worth over

a million dollars in the next ten years

but before I get into the specifics

here's where you first need to start in

order to make this actually worth

because I promise without this part your

plan will absolutely fail and when it

comes to increasing your net worth it

makes very little difference how much

money you actually make now you might be

thinking to yourself that that makes

absolutely no sense I've gone crazy

dislike unsub Graham is lying to us but

let me explain when it comes to

increasing your net worth what really

matters the most is how much of your

income you can actually save not

necessarily how much money you can make

I can't even tell you how many people I

know making five hundred thousand

dollars a year but they spend four

hundred and eighty thousand dollars a

year on random bullsh

I've seen so many people who make 250

thousand dollars a year who somehow live

paycheck to paycheck with absolutely

nothing to show for it because they rent

a very expensive house in the hills with

a nice view they lease a Ferrari and

they take very fancy Instagram pictures

from vacations they have spent $20,000

on and on the

other hand I've seen people who make

$80,000 a year who somehow are able to

save $40,000 a year and invest that

consistently I've seen so many people

who are worth more earning $100,000 a

year than the dude who's making seven

hundred and fifty thousand dollars a

year simply because the hundred thousand

dollar a year person saves more and if

you guys want to know the secret about

how I was able to become a

multi-millionaire my 20s it's because I

lived and spent like I was broke I

pretty much spent my money as though I'm

making a MacDonald salary that sounds

like celery like I'm making a McDonald's

celery salary with an S and no matter

how much money I make in a year I spend

the exact same amount I don't care if I

make nothing in a month or if I make a

hundred thousand dollars in a month my

spending doesn't change at all instead I

wear $4 and $0.99 shirts from H&M i buy

clothes on Black Friday because this was

like 60% off I live in a duplex so I

could rent out the other side and pretty

much just live for free I make food at

home instead of going out to expensive

restaurants and also I make sure to

smash that like button if you haven't

already now I get that this might be

pretty extreme and it's not for

everybody but the reality is that most

very successful people don't necessarily

have an income problem they have a

spending problem and if you're watching

this video chances are you already have

the ambition to go out there try to make

as much money as you possibly can it's

just you need to be prepared to make the

sacrifice they're really hunkering down

for the next ten years saving and

investing as much money as you can and

that will set you up for the rest of

your life you really got to think to

yourself is one decade of frugal living

worth it for an entire lifetime of

freedom to never have to do something

you don't want to do to never have to

worry about losing your job or never

have to listen to the boss that you hate

it's definitely not for everyone and

there are many people who feel that they

just deserve to spend money because

they've worked hard for it and that's

totally fine but you know what that's

not me and by living frugally I have

never once felt deprived because of that

if I really wanted to go out and get the

Lamborghini that I've been saying I've

been wanting for like the last year I

can go out and buy one right after this

video in cash but I'll tell you

something the real joy doesn't come from

going out and buying those things that

comes from having the choice that if you

wanted to you could just think about

that for a second enjoyment comes from

the freedom of choice not the choice

itself but I realize this is some hippy

New Age [ __ ] but you know what I

mean that's been my experience so with

that said if you're not able to get your

spending under control you really only

have two options the first one is that

you need to make a ton of money starting

a business to the point where it doesn't

matter how much money you spend or you

need to make a very speculative

investment that pays off very very well

now that might sound pretty black and

white but when you break it down that

you need to save 273 dollars every

single day for 10 years in order to save

up enough money to say you have a

million dollars that's a lot for 99.999%

of the population to handle but here's

the thing now when it comes to doing

this usually just saving up money alone

will not get you to that point now what

you realistically need to do in order to

speed up this process is invest your

money no even though I've been able to

keep my expenses pretty low the reality

is that I would not have become a

millionaire by 26 if I didn't invest my

money it's as simple as that the fact is

that you can really only do so much on

your own before you need a little help

so that's why you should really have

your money working for you and if you

want a million dollars in the next 10

years what that breaks down to is

investing six thousand dollars a month

every single month at a 7% annual return

and congratulations after ten years you

have become a millionaire from investing

six thousand dollars a month

unfortunately though that's easier said

than done and the reality is that

investing six thousand dollars a month

for the majority of the population is

simply not doable because remember that

works out to be seventy-two thousand

dollars a year after you pay taxes and

that's also 72 thousand dollars a year

after you paid all of your living

expenses like food shelter car bits

connect life just adds up and if you're

actually earning that much money in

order to save $72,000 a year chances are

you're making more like a hundred fifty

thousand dollars a year gross and you're

living frugally at the same time so when

it comes to actually making that amount

of money or saving that amount of money

rarely does that happen from strictly a

salary job especially if you're watching

this and not already

150,000 dollars a year and if you are in

one of these careers or you do have a

great job that's paying you over

$150,000 a year like I said

congratulations it's really just a

numbers game of saving six thousand

dollars a month over ten years at a 7%

return and there you go that is how you

become a millionaire in ten years no

earlier in the video I give an example

of someone who's making $80,000 a year

after paying taxes and saving half of

that income that works out to be $40,000

a year or 3,300 dollars a month

no even when it comes to investing this

chances are you're not going to be able

to get a high enough return to become a

millionaire in 10 years by simply

investing $40,000 a year for example if

you invest $40,000 a year and take the

typical 8% average stock market return

over 10 years you're only going to be at

seven hundred and twelve thousand

dollars that's nearly three hundred

thousand dollars shy of your $1,000,000

goal however by investing your forty

thousand dollars a year at an 8% return

you could still become a millionaire

it's just going to take you thirteen

years to do it not quite our 10 years

that we're going for here so in order to

increase your return without too much

risk of losing all of your money you

need to actively work on your

investments to increase that return and

for many of you who have watched my

channel already you know my favorite way

of doing that is in real estate now

here's how you can do this and yes I

totally understand I'm definitely

simplifying things a lot but here's the

basic concept so let's take our example

you're making $80,000 a year after taxes

and from that you're able to save

$40,000 a year and what you do with that

extra forty thousand dollars that you

save you use thirty thousand dollars of

that as a down payment towards real

estate and then the remaining ten

thousand dollars you spend on renovating

that property you just bought so in

order now to increase those returns this

relies on you finding a property that

you could buy for twenty thousand

dollars below what it's worth so this

means you end up buying a $200,000

property for one hundred and eighty

thousand dollars then from there you're

gonna be spending your remaining ten

thousand dollars renovating the property

and typically when you do this any

renovation you do should at least double

the return in terms of equity so when

you spend ten thousand dollars

renovating a property it should bring up

the value of the property by twenty

thousand dollars so sometimes it's a

little bit more sometimes a little bit

less but again this is

my example but in this example you've

invested $40,000 total in this property

again $30,000 is a down payment

$10,000 in a renovation but in return

you've received back in additional

$40,000 worth of equity in the property

essentially just doubling your money now

you should have $80,000 worth of equity

in the property that should hopefully be

generating you about an 8% cash on cash

return that you could then use and save

to reinvest back into the next deal now

if you can go and find one of those

properties every single year and then

reinvest all of the profit you will be

worth way more than 1 million dollars

within 10 years that's pretty much what

I ended up doing except here in Los

Angeles with much more expensive

properties and if that example sounds a

little bit far-fetched to you just keep

in mind that was a real example from

micros hearts who I had on my channel

earlier this year who became a

millionaire at the age of 25 doing

exactly that

he's a prime example of someone who

became a millionaire and really about

seven years by working a day job living

frugally and reinvesting all of that

back into real estate

but what about now for everyone else who

isn't making $80,000 a year because if

you're watching this right now and

you're making $25,000 a year the chance

of you becoming a millionaire without

taking some incredible risk is just it's

realistically not gonna happen so in

order to do this you really need to work

now on increasing your income so you can

save and invest more so when it comes to

actually becoming a millionaire in ten

years starting from nothing without

right now having income you really need

to work in an industry where your income

is not tied to how many hours you work

because if you're paid per hour unless

you're already making like $500 an hour

or something like that there's only so

many hours in a day that you could work

and in over a decade of doing that it's

very easy to get burnt out very very

quickly so instead if you're working in

a sales environment or anything where

your income is not tied to the amount of

hours you work but instead by the

results that you get it becomes very

easy to scale up very quickly to a very

high income I know a lot of people for

instance that are making over two

hundred and fifty thousand dollars a

year as a real estate agent and they're

only 2 or 3 years in the business now

and while this definitely is not the

norm and many people don't ever achieve

those sort of numbers in sales the

reality is that if you're very good at

what you do you can achieve some

incredibly high-income very quickly and

become a millionaire in just really a

few years and that's how I was able to

do this I worked as a real estate agent

I was able to leverage my time as

effectively as I possibly could and then

funneled all of that money back into

real estate investing and Here I am

today making YouTube videos about doing

exactly that and sales can really be a

great career path for those that are

into it that find it exciting that like

to work with people and you really want

to make as much money as they can and

not get paid per hour and another option

here would be to go ahead and start your

own business now I know that this might

be a big commitment for many people to

make but the reality is that if you hit

it big in business and you find

something that you really enjoy doing

oftentimes you could scale up very

quickly and make a lot of money and

anything you could do online has the

potential to scale up very quickly I

know many people who are now making a

hundred thousand dollars a month in

profit who a year ago we're not making

anything and short-term if these people

can just live frugally save as much of

that as they can and just write it out

for a few years they will have over a

million dollars saved up and we'll never

have to work another day in their life

and online scalability is absolutely

amazing for the same amount of work it

takes you to reach ten people online you

could expand that and replicate that to

reach ten thousand or a hundred thousand

people and because of that you can

leverage your effort not your time to

make significantly more money and if

this video ends up getting pushed to

mine on audience first of all what's up

nan audience thank you so much for

watching if you haven't already make

sure to smash that subscribe button I

have a feeling though that most people

would say this is wildly unrealistic and

that the average person isn't able to do

this and you know what they're

absolutely right the average person is

never gonna do this the average person

is never going to try the average person

is going to think this is a massive

waste of time and the average person is

never going to want to make the

sacrifice needed to actually make that

happen and if you guys want the harsh

reality that mentality is exactly why

they are average but I have a feeling

though that if you're watching this

especially towards the end you don't

categorize yourself as someone who is

just average trust me when I say this

that if I believed that none of this was

achievable I never would have achieved

it I was able to achieve this because I

had the belief in the

that I could actually do it and that

became a self-fulfilling prophecy

you will need to think the exact same

way and if you follow this cut back on

your spending put in the work invest

consistently long term and work in an

industry where your income isn't

determined by the amount of hours that

you work but by the results that you get

you too could become a millionaire in

the next ten years and by the way for

anyone interested in my program the real

estate agent Academy which details how

you can grow your business as a real

estate agent I'll be offering $100 off

for the first ten people with this

coupon code just one hundred and then

the word off so just one hundred off

again for the first ten people if you've

made it to this point in the video I

feel like you know there you go

I'm not putting this in the description

I don't really mention this in anywhere

else so it's just right here for anyone

who's made it to this point so anyway

that's it I hope you guys enjoy again

thank you so much for watching I really

appreciate it if you haven't already

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until next time