Who wants to be a millionaire (we hope you read that in Regis Philbin’s voice from the famous 90s computer game inspired by the hit game show, Who Wants to Be a Millionaire?). Indeed, we’re guessing you wouldn’t mind becoming a millionaire if you’re reading this article. So, how does one do it?
The good news is that having a million to your name is not as far off as what you might think. You don’t have to resort to going on a game show or winning the lottery. If you want to become a millionaire, you have to develop rich people habits. No, we don’t mean fine dining. We mean investing, which everyone should do, regardless of your profession.
Of course, there are also some jobs out there that could make you a cool million in one single paycheck, some of which we will outline below. You won’t even have to call a friend or ask the audience because we’ve got it all right here. Here are 15 paths that could take you to millionaire dot com.
15. Doctor, The Tried And True Path
One way to become a millionaire is to find yourself a high paying job. Of course, by no means will these jobs make you an instant millionaire, but you could get there eventually. The number one highest paid job in America right now, according to Forbes at least, is an anesthesiologist. These guys and gals bring in an average wage of $235,070 per year. A surgeon is next on the list of highest paid jobs, bringing in $233,150. The point is that if you want to be a millionaire, becoming a doctor will slowly, but surely, get you there. Orthodontists and psychiatrists are also among the most high-paying jobs. With a variation of “doctor” making Forbes’ list of highest paid jobs (in America), you can’t go wrong getting into the medical field. Just become a doctor already, okay?
14. Software Architect
This job has been rated as the top highest paying job in the tech world at the moment. Indeed, if you are searching for jobs with the highest earning potential, you will see software architect time and time again. The median pay is listed at between $128,250 to $132,000 depending on where you search, while a top paying position might earn you $169,000. Again, this won’t make you an instant millionaire, but you will get there eventually. Not only is a software architect one of the highest paying jobs, but it is also one of the best in terms of overall working conditions and low stress. CNN Money, for example, put software architect on their ‘Best Jobs in America’ in 2015 list. What does a software architect do, you ask? The short answer to that would be that they make design software for various devices.
13. Instagram Celebrity
Take advantage of the Internet, millennials. Do you have an Instagrammable body that you can take advantage of? Can you take Insta-worthy pictures of your lunch? Who would have thought that becoming an Instagram Model could be a viable career option, by the way?! However, if you can manage to generate an online following, this could lead to a ton of cash and numerous other opportunities. Jen Selter, for example, has appeared in magazines like Maxim. And to think of all the money you could get by doing product endorsements alone. By that, we mean taking a picture of yourself holding a box of hair vitamins. Teatox, anyone?
Do you remember Essena O-Neill? She was a former Instagram model before she, bravely, called it quits because “social media is not real life.” However, she used her stunning good looks and enviable body to get a ton of online followers and said she could have easily made $2,000 for posting a single Instagram picture. Of course, it didn’t end well, at least for O-Neill, but the cash potential for an Instagram celebrity is real.
12. Surgeon, Even Better Than A Doctor
We mentioned a list of the highest paying jobs in America overall, but what about the top paying jobs in 2016? Just for interest sake, according to Forbes, being a surgeon is the most lucrative this year, with a median income of $357,192. Luckily, many of us are well-skilled in this area from the hours spent playing Operation as a child. This is followed by a psychiatrist, which brings in a median income of $207,153 a year. With America being in disarray this year, a trend that is expected to grow for at least four more years, we expect this career path to experience a lot of growth in the future. Coming in at third place is a military general, bringing in $205,114. Not too shabby. Again, all of these jobs will not make you millions immediately, but you might have a pretty fat bank account after ten years or so and possibly even sooner if you don’t go on a spending spree and get yourself something like, oh, we don’t know, three Bengal tigers and a trainer.
Blogging is not dead yet, even if the discontinuation of Google Reader a few years ago may have signalled otherwise. In fact, Business Insider says that starting a blog is one way to generate millions of dollars, even in the year 2016. They gave the example of Scott DeLong, who started the blog ViralNova and was able to get 100 million readers every month within a relatively short period of time. With Google ads on every page, his monthly income ended up being in the six figure range after only eight months before he eventually sold off the blog for a ton of money. Sure, blogging won’t necessarily make you an instant millionaire, but once you have enough readers, you might end up with a ton of cash. If you don’t believe us, just Google “How to Make Millions Blogging” and you will generate articles by the likes of Entrepreneur and Huffington Post showing you how to do it.
10. Investment Banker
Getting into the banking world is never a bad idea, especially if you dream of dollar bill signs. The money-making potential of an investment banker is kind of ridiculous. Of course, they do put in a lot of hours, but don’t let that stop you. Whereas a regular working week might be 40 hours, an investment banker might put in 80 to 120. However, you can bring in a lot of extra dough with the bonuses that are often part and parcel of the job. Per Forbes, even a summer intern/associate could bring in $71,300 on top of $9,400 in bonuses. A third-year associate could bring in $149,000 plus an additional $60,700 in bonuses! While this wouldn’t make you an instant millionaire, you could bring in a lot of serious cash and it wouldn’t be long before you could call yourself one. For recent grads, this is definitely one path that will make you a lot of serious cash more than other career paths. If you managed to step into a vice president or managing director role, you would be on your way to Millionaire Status before you even know it.
One of the newer jobs to be born out of the Internet era is that of the YouTuber. The payout can be huge if you can manage to get yourself a loyal fanbase and sponsorship deals. PewDiePie, who does gaming videos, was the highest-paid YouTuber in both 2015 and 2016. He has 49+ million subscribers and brought in 15 million in 2016. But, if you can get one of your videos to go viral, you could end up with a million dollars in a single paycheck. Do you want to make a ton of money without having to do much at all? Become a YouTube celebrity! No qualifications? No problem! All you really need is a smartphone. You can even film from the privacy of your own bedroom! There are many possible routes you could take to become a YouTube celebrity. You can film yourself gaming (the dream) or you could record your life Casey Neistat-style to name only a few. Can you say cha-ching? Create an account today.
8. Online Sales
Technically, being a blogger, YouTuber or writer could all be considered side jobs. But the type of side jobs we are about to mention aren’t technically “jobs.” They probably won’t make you an instant millionaire, but they could eventually make you a lot of money. One interesting way to generate additional income is to sell a product on Amazon. There are people who have simply looked up best-selling products, contacted a manufacturer in somewhere like China and then sent the product to Amazon. They don’t ever see the product! Doesn’t that make you want to try to sell something today? Another route is to invest in real estate. Within this category, you have a lot of options in terms of generating income. You could flip houses or generate passive income by renting out houses, apartments or vacations rentals, like on AirBnB. Who ever said a little side action was a bad thing?
7. Gain Multiple Incomes
Here’s a tip: don’t rely on one source of income. One study found that having three sources of income could guarantee you millionaire status. For example, this might include doing something in real estate, on top of investing in the stock markets and having some kind of business on the side.
Also, watch less TV (sad, we know). Warren Buffett, one of the richest men in the world, apparently spends 80% of his day reading! Thomas Corley, who wrote Rich Habits: The Daily Success Habits of Wealthy Individuals said that 67% of those people are who sitting on a lot of cash watch television less than an hour per day. Instead, they spend their time reading (but not for fun – the read for self-improvement purposes). In short, cultivate reach people habits.
In general, working for a salary typically does not make one rich. Your salary is capped. When you become an entrepreneur, there is no cap. If you look at all the billionaires of the world, from Bill Gates to Warren Buffett, all of them are entrepreneurs. Of course, don’t become an entrepreneur because you wanted to become rich. You have to love what you do.
So, you want to build a business? You don’t even have to have any start up capital – there are articles out there that will show you how to start a business without it. You can start one with only a few hours a week! If you think about it, that’s the equivalent of two television programs! We won’t go into all of the details about how to start your own business but know that it’s okay to start small. In the words of Dumbo himself, surely a wise source on all business matters, “Don’t just fly, soar.”
5. Professional Gambler
This is a job that could actually make you an instant millionaire. We know, we’re finally getting to the good stuff, right? If you’ve got a little start-up capital, and obviously some skill and a ton of luck, you can take your money and double, triple or even quadruple it. This probably isn’t a career path we recommend taking, but it may be for you if you are a bit of a risk taker. Obviously, a lot of the big money is in the competitive circle, and if you’re talented and dedicated enough, you just might get there. More accessibly, though, you can try your luck on any of the seemingly endless online poker sites. There, you can start off betting small and gradually work your way up as you get bolder. We have friends who have made thousands going this route. However, if you want to really make a lot, you are probably better served going to actual casinos and sitting down at the high-end poker tables, where you can make some truly big bets against some tough competition. Remember, the greater the risk, the greater the reward.
4. Write A Best-Selling Book
Writing roughly 80,000 words, the average size of a novel, finding an agent who believes in your work and who will represent you, is already quite a feat. On top of that, you then have to get the book published. But if becomes a bestseller, you are looking at serious dollar signs, not to mention the fact that you will live on through your words, and maybe even sell the rights to Hollywood. If you have talent, the possibility is certainly there. In other words, there’s hope. Recent examples of relatively unknown people writing a bestseller come to mind, from Veronica Roth (the Divergent series) to Gillian Flynn (Gone Girl). Of course, you could always go the self-publishing route, too. If you’ve got 80,000 words inside you, and maybe even more, you could spend your days penning chapters in an effort to write a best-seller. All it takes is one shot and if you hit it big, you can reach millionaire status.
Did you watch the 2015 biopic Joy with Jennifer Lawrence and Robert De Niro, about self-made millionaire Joy Mangano? If you did, you will know that she created a product called The Miracle Mop, a self-wringing mop, and ultimately an empire. She started out by making 100 mops with only a small amount of money she had saved.
Of course, the Internet has also made it possible to bring ideas and money together much faster. Putting your idea on Kickstarter or Indiegogo, for example, could allow you to raise a lot of money with people who genuinely want to see your product to life. Zach Braff even brought his 2014 film, Wish I Was Here, to life via Kickstarter. A lot of regular people have even managed to raise over a million dollars. One of the most successful projects was Pebble Time, a watch, which raised 1 million dollars in 1 hour and 10 million dollars in less than a month. Time to put your thinking cap on.
2. App Designer
Remember Flappy Bird (2014)? That game that once you got the hang of it, was as addictive as pizza, chocolate and potato chips? And to think that it took the creator, Dong Nguyen, all of three days to make it. Three days?! This has got to be the fastest path to millionaire dot com – indeed, no other person has gotten rich so quickly, and that includes Mark Zuckerberg. Nguyen was thinking he would make a few couple of hundred dollars a month. Little did he know the video would go viral and end up being at the top of the App Store and Google Playlist. He was making $50,000 a day before he took the app down because it got to be too much for him. Why was this particular game so successful? According to the Nguyen, it was because “[I]t happens to be something different from mobile games today, and is a really good game to compete against each other… People in the same classroom can play and compete easily because [Flappy Bird] is simple to learn, but you need skill to get a high score.” In some ways, this is a success story, at least monetarily. However, Nguyen lamented over the fact that he had lost his simple life.
1. Stock Market Trader
Being a stock market trader could make you a millionaire. Why? Because the money is “working for you” – you’re not working for your money based on the number of hours you put in, which naturally has a cap since you’re probably a human at all (we assume you’re not a robot). Keep in mind, however, that you don’t even have to trade from an investment bank or with a large amount of start-up capital. In fact, these would be two myths about trading. The important part is doing your research in order to take advantage of the market. Penny stock trading is just one form of trading that can make you millions in a short period of time if you take on the risk. Of course, you have to be able to identify pump-and-dump schemes for you to truly succeed, but there is definitely high reward involved. If you want to be on your way to a cool million, start stocking up.