How can I become a millionaire? Most millionaires are self-made people. They
set a goal to become a millionaire -- or at least
a goal to achieve financial freedom. Some
invested in a higher education that set them on
some of the world's most lucrative career paths
-- physician, lawyer or CEO, to name a few -- and then implemented aggressive saving and
investing strategies. Others (in fact, most) took an entrepreneurial
approach by turning a good idea into a
successful business. Although people who are
self-employed make up less than 20 percent of
the workforce in the U.S., they comprise a
whopping two-thirds of the nation's millionaires [source: Stanley]. Of course, starting your own business means
taking risks, but with the right idea and a good
marketing plan, success could be yours. Some
of the hottest sectors include green
construction, which is expected to reach a
value of $140 billion by 2013, and mobile app development. In 2012, there were about 1
million apps available in Apple's App Store and
Google's Android Market, with more being
added each day. In the App Store, for
example, monthly user downloads reached the
1 billion mark in 2012. Sell just a fraction of this figure -- say, 500,000 apps -- for $2 each, and
you'll earn a million dollars [source: Thurner]. We'll explore more millionaire-maker ideas in an
upcoming section, too. Another strategy involves a degree of luck and
skill. If you have extreme athletic talent, you
stand a chance of making millions as a
professional athlete. LeBron James, for
example, went straight from high school to the
NBA and got a $90 million contract from Nike before he had even played a single
professional basketball game [source: ESPN]. However, the four professional sports leagues
together in North America employ fewer than
5,000 athletes [source: Simpson]. Or, you could set your sights on Hollywood and
becoming a highly paid actor. Unfortunately,
the odds are one in 1.5 million that you'll
become a movie star [source: Carter]. You'll encounter similar statistics if you're an aspiring
singer or author, too. Of course, not all millionaires are self-made.
Another way to become a millionaire is to be
born into a family with a high net worth, as
long as the family is willing to divest some of its
funds toward your future. Take Paris Hilton,
for example. She is the great-granddaughter of Conrad Hilton, who founded the Hilton
Hotels chain, and subsequently created some
of the wealthiest heirs in the world [source: Biography]. Even if you're not born to wealth, you can always take a shot at marrying into it,
provided you get to know people in these high
income brackets. Finally, a lucky few win the lottery, hit it big in Las Vegas or win a load of cash on a game
show. The odds of this happening are in the
same territory as becoming a movie star. If you'd rather