In other words, you can inherit money from a rich relative, win the lottery, save for most of your life, or earn a million in your own business.
This one is pretty straightforward. You either come from money or you don’t. Movies are full of stories about people inheriting millions unexpectedly from long-lost relatives, but don’t count on it. Even if you do have rich relatives, you could wait years and years before the millions become your own.
Bottom Line: It’s not your money, so don’t waste your life waiting for it.
Win the Lottery
The odds of winning the lottery mahzooz ticket price in a single state lottery are about 18 million to one. Looking to win one of the multi-state Mega-Millions? Your odds of winning jump as high as 120 million to 1.
Your odds of being struck by lightening are about 2.65 million to one. You are 6 to 45 times more likely to be struck by lightening than to strike it rich on your next lottery ticket.
Bottom Line: Buying that lottery ticket is about as productive for your financial future as striking a match to that dollar and watching it burn.
Finally, a guaranteed way to become a millionaire! If you discipline yourself to save and safely invest 10% of your income from the time you are 18, there is absolutely no doubt in my mind that you will have accumulated at least a million dollars by the time you are ready to retire at 65.