6 simple things to help you make 1 million dollars in a short period of time without the fear of falling Prices

I was talking to a friend and he was asking how to earn money. He complained about how he has been losing in his trades and how he has been trying to do so many things and keeps on failing.

Today, the price of Terra went down by over 98% and a lot of crypto holders were scared and sold most of their holdings.

Today, hive is at 0.5$, and most of the veteran users on the hive blockchain are doing business as usual.

The thing is there are patterns that those who are financially free follow.

in this post, I will be talking about how to end up being a millionaire through the easiest possible means.

Get a high-income skill/profession

A lot of the time people try to do a lot of things and end up losing instead of making money.

For example, you see people trying to run into Ponzi schemes and forex trading just because of how it appears to make the significant minority look.

I am not saying that you cant be rich from trading. I am saying that to be rich from anything, you have to be skilled at it.

In becoming wealthy, the first thing to do is get good at something that is highly sought after.

High-income professions include Doctors, dentists, engineers, etc.

High-income skills include copywriting, coding, currency trading, etc.

Being very good at either a skill or a profession increases your income. What if you are a doctor and a copywriter? Thats double for you!

How many financial books have you read?

Statistics have shown that most wealthy people read at least one book a week.

But how many books have you read on investing? Yet you want to be rich.

One of the wrong things people do is not being intentional about their earnings.

They are not aware of what to do with their money etc.

For example, there are people that invest in stocks just because that is what is being talked about on social media.

After a few days or months, they lose the money and start again from where they were before getting paid.

However, if this person ad invested tie into acquiring knowledge, he would have known that the greatest way to fail is by investing in hyped stocks.

He will also have known the criteria that the top investors use before investing.

So the next best thing to do after getting money is to educate yourself on how to spend it.

Educate yourself financially.

Some of the best financial sayings include;

• pay yourself first
• Do not invest in what you don't understand
• Know what you own and why you own it

A few good books that can help with financial literacy include

• The richest man in Babylon

• The intelligent investor

• the little book of common sense investing

The S&P 500

I know most people in the crypto community dont believe in this but the S&P 500 has proven to be the most reliable source of investment in the past 100+ years.

So the best investment still remains the S&P 500. Statistics say that the S&P has an average ROI of 13% per year.

Investing 11 dollars a day in a Roth account for 30 years will be worth over 1 million dollars.

What I am trying to say is to invest in something that has a long track on reliability consistently.

Dont go about investing in Ponzi schemes and the get-rich schemes. THEY DONT WORK!!!

Some fraction for crypto.

Although, the crypto world is just gaining traction.

It will be wise to allocate some money, a small fraction that you are willing to lose consistently into cryptocurrencies, and NFT with good prospects.

Remember, only put your money into things you understand.

This goes to say that when investing in crypto, make sure the crypto is built on sound investment principles.

This is why most people on the hive blockchain and those who own bitcoin dont fret when the prices fall.

Have extra sources of income.

One source of income has never been sustainable for the wealthy.

Having an extra source of income takes you faster to your goal than depending on one job.

When thinking of building a side business, think of things that are highly sought after,

Be innovative and keep evolving.

The aim is to diversify. Do real estate, real-time business, etc.

Spend less than you earn

This might be the hardest part of the story but this is where much of the work lies.

A lot of people cant spend less than they earn.

When there is an increase in their salaries, they raise their standard of living.

Thats when you see them buy a new car when nothing was wrong with the old one.

They try to meet up with the trend.

All these increase the time it takes to get to financial freedom.

Some authors have said things like as little as cooking your own meals can help you save 10% of your salary.

Taking public transport to where you are going will prevent you from car spending.

Buying a fairly used car instead of a new one is also another way of saving money.

In summary

Financial freedom lies in 4 things

• Spend less than you make

• Increase your income by acquiring high-income skills

• Investing wisely

• Building a side business.

Thank you for reading

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