Too much emphasis on making millions. Why?

18 replies
"Fastlane to millions"
"Grow big or don't bother"
"Blueprint to a Billion"
"Make millions or kill your-self"
"making $10m is easier than making $1"

etc...

Don't we need to stop reading this stuff? OK.. great if that's your number one priority in life but lets' face it. Without timing and a little luck it probably won't happen. Is it worthwhile goal to seek millions fast or consider your-self a failure?

Now, If you work smart, etc any person should be able to make say $10k to $20k+ month etc and slowly build up. But everywhere seems to focus on making millions fast. Some even seem to go as far as saying unless you make millinos fast don't bother.

Won't this lead to frustration for most? These books are always written by people who seemed to have cashed out at the right time. Without that eleemnt if timing and luck no amount of "growth ,scaling, dedication, hard work,vision, etc would have made them that amount of money. Something that never seems to get mentioned. It reminds me a bit of people winning the lotto then writing books about "How to win the lotto"

Any how......my thoughts.
#emphasis #making #millions
  • Profile picture of the author Nic Oliver
    I suspect that part of it is aspirational - "Who wants to be a millionaire... I do!"
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  • Profile picture of the author sloanjim
    yeah it's starting to look like "give em what they want"

    book 1 : "work hard, work smart, start slow and build upto $100k per annum biz" = sales 2

    Book 2: "Make $2.8M by tomorrow working 0.5 minutes a day" Sales- 500,000+
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  • Profile picture of the author sloanjim
    There's reality and dreamland. Reality sucks, dreams sell.
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  • Profile picture of the author GT
    Yes, people respond better to the dream of "instant, easy success" than to the reality of "slow and steady wins the race." Most people know that the hype of the sales literature is probably just hype ... but still ... the promise of finding an easy way is still there and it draws people in, over and over again.

    GT
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  • Profile picture of the author TopKat22
    Because it grabs people's attention.

    But any business person knows that you set short term and long term plans.

    If you are planning on earning it from income generated, you first have to make $1 and then $100 and then $1000 and so on and so forth.

    It is actually not too difficult to become a millionaire which by definition is having a net worth over 1 million dollars.

    The easiest way to become a millionaire is to start saving $100 a month from the moment you are born (I always recommend parents do this for their children) at 7% compounded daily over 65 years comes to
    $1,521,898.28

    If as the person ages, they can put more money in each month or get a higher interest rate or both, one could be a millionaire much earlier than age 65.

    If your parents did not invest for you, you could start with $1000, plus investing $160 a month for 40 years at 10% and have $1,001,139.96 .

    Other ways to be a millionaire quicker are real estate investing with no money down,
    options trading (but not day trading), inventing something of value or creating a business and building it up in value and earn the money or sell it for $1 million later.

    Now, becoming a billionaire, that is a bit more challenging. (or maybe not to a billionaire.) ;-)
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    • Profile picture of the author weekendmarketer
      Originally Posted by TopKat22 View Post

      Because it grabs people's attention.

      But any business person knows that you set short term and long term plans.

      If you are planning on earning it from income generated, you first have to make $1 and then $100 and then $1000 and so on and so forth.

      It is actually not too difficult to become a millionaire which by definition is having a net worth over 1 million dollars.

      The easiest way to become a millionaire is to start saving $100 a month from the moment you are born (I always recommend parents do this for their children) at 7% compounded daily over 65 years comes to
      $1,521,898.28

      If as the person ages, they can put more money in each month or get a higher interest rate or both, one could be a millionaire much earlier than age 65.

      If your parents did not invest for you, you could start with $1000, plus investing $160 a month for 40 years at 10% and have $1,001,139.96 .

      Other ways to be a millionaire quicker are real estate investing with no money down,
      options trading (but not day trading), inventing something of value or creating a business and building it up in value and earn the money or sell it for $1 million later.

      Now, becoming a billionaire, that is a bit more challenging. (or maybe not to a billionaire.) ;-)
      The compounding effect calculation is really an eye opener. kudos.

      Regards,
      Andy
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  • Profile picture of the author abugah
    Not many want to make a million in 36 months. They want it NOW; if possible without lifting a finger. And marketers know this and make headlines that suggests it is easy and fast.

    I have seen this many times. My threads with money headlines receive far more views than those that talk about philosophy.
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  • Profile picture of the author pilotgardens
    Unfortunately Greed rules our society; it’s the age of self indulgence and instant gratification. Once people worked hard to improve things for their children and didn't buy things until they could afford them. Now people don’t think twice about going into debt to buy something they want.
    Naturally this attitude leads to wanting riches now or even sooner, so people, even though deep down they know its hype, fall for the over hyped "become a millionaire overnight" style and then become disillusioned with Internet Marketing. I guess that’s why the figure of 5% success rate is spoken of.
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  • Profile picture of the author buckeyes09
    Although not as much as it once was, becoming a millionaire used to be absolutely monumental. It is still very difficult, but definitely obtainable for people who want to put in the creativity, effort, and time. It plays to peoples' hopes. If you give them hope that they can become a millionaire (what an achievement! Especially if you turn on the news....), they will buy. And then if you throw guarantees and personal stories from people with Ivy intellects (Joe the Plumber characacher), it even fuels the marketing efforts more.
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    Christian

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  • Profile picture of the author Genycis
    I'll be content personally if I'm making 100k or more a year... millions are great and yeah, I could be happy to reach there (means more money I can put away for us in the bank, save for my son, help my parents and my wife's parents with, siblings, grandmother, and give to charity or a church... reinvest, and also spend a little), but if I only reached 100k or so every year consistently, I'd be more than blessed!
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  • Profile picture of the author Austin357
    In an instant and I want it now society that's the pie in the sky dream. In reality, it takes tons of hard work, persistence and a little luck to find that winning formula. Using the word "million" or "millionaire" are great marketing words as they do attract eye balls.
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  • Profile picture of the author TopKat22
    More people are becoming millionaires in the US every year.

    Number of millionaires is projected to rise rapidly - May. 5, 2011

    With 10.5 million, the U.S. has -- by far -- (has) the greatest number of millionaire households in the world....

    ...the number of millionaires in this country and abroad will grow rapidly over the next decade.

    In the U.S., the total number of families with a net worth of over $1 million, including real estate, will double by 2020, according to a report by the Deloitte Center for Financial Services.
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  • Profile picture of the author buckeyes09
    I find that sadly funny. For all of the people complaining about the economy, many of us are progressing forward. Then again, the people who have goals of that, won't let anything stop their "get it done" attitude.
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    Christian

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  • Profile picture of the author Mattv
    Sorry to ruin the moment. But a million isn't what it used to be. Sure the number of "millionaire households" will probably double by 2020. That isn't because we're earning more (adjusted for inflation) it's because the value of the dollar is eroding. Also savers=losers, Good luck getting 7% interest rate on savings. You'll get 1.5% at most and with inflation being higher than that, you're LOSING money.
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    • Profile picture of the author TopKat22
      Originally Posted by Mattv View Post

      Sorry to ruin the moment. But a million isn't what it used to be. Sure the number of "millionaire households" will probably double by 2020. That isn't because we're earning more (adjusted for inflation) it's because the value of the dollar is eroding. Also savers=losers, Good luck getting 7% interest rate on savings. You'll get 1.5% at most and with inflation being higher than that, you're LOSING money.
      I totally agree and said that, more or less, earlier in this thread.

      A million isn't as much as it once was, at all.

      And you are correct about the savings accounts if you are just going to the bank and putting it in a regular savings account.

      However, there are other places to put your money with low risk and get higher rates of returns than bank.
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  • Profile picture of the author ProScribe
    Whenever I have heard MJ deMarco being interviewed (which is a couple of times) about his book the Millionaire Fast Lane he invariably has to apologize about the title, but the fact is that is what sells.

    That book is really good BTW
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  • Profile picture of the author dee4d
    Some of these services are just like pyramid schemes. You make $ 1,000 by spending around $ 700, and it lasts just for about two weeks. It's actually being conned, you are being dragged to something you don't know. It's good to tell as it is - no smart work, no persistence, no consistency, no good rewards!
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