Date: September 4, 2019
Author: wealthscheme
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Most of us can find ways to save $100. But how do we use that money to boost our finances?

We asked nine successful investors, self-made millionaires and advisors at The Oracles to share their ideas on how to turn $100 into $1 million.

1. ‘Invest in something you love.’
“It’s difficult to acquire wealth. You either have to save diligently, make a lot of money on a business deal or invest. Creating real security requires saving a lot more than you think. It’s also expensive to continue growing a business after it’s successful.

That’s why I’d invest. Find a solid group of people you trust and combine your $100 with theirs to make an educated and solid, yet aggressive, investment. Invest in what you know — and have a vision for it.

You can even invest emotionally. With real estate, for example, I always pick somewhere I would live if everything went bad. Whatever approach you choose, pick something you love. I believe that if you love something, you’ll be good at it. ”

—Bethenny Frankel, founder of Skinnygirl, cast member of “The Real Housewives of New York City,” New York Times best-selling author and guest judge on “Shark Tank.” Follow Bethenny on Instagram.

2. ‘Buy and sell items from garage sales.’


“Go to garage sales and look for underpriced items like action figures or stuffed animals. Then search eBay’s ‘sold’ listings to see what they’re worth. If there’s a large enough price difference, buy it and sell it on eBay for a profit. Use the rest of your $100 to cover transportation and shipping costs.

(You might be thinking: But Gary, that won’t make $1 million! And you’re probably right. But if you try hard enough, you can make, at the very least, $100,000.)

Then comes the hard part. You have to save what you made. When I was in my 20s, I didn’t go on vacation or buy fancy things. I saved my money instead. And by the time I was in my 30s, I had hundreds of thousands of dollars. Then I invested those hundreds of thousands — and they made millions. You just have to be patient. ”

—Gary Vaynerchuk, founder and CEO of VaynerX; New York Times best-selling author of “Crushing It!”

3. ‘Improve and invest in yourself.’


“Of course, there are people who have invested in an opportunity at the right time and made a fortune. Had you invested $100 in Bitcoin in 2010, you would’ve done well. But to me, that’s like playing the lottery.

A more reliable way to get rich with just $100 is to invest it in a course, book, audio program or event that will help you improve yourself. Spend it on developing new skills, gaining knowledge and making powerful connections. When you invest in yourself, you can’t lose. ”

—Grant Cardone, sales expert who built a $750 million real estate empire and New York Times best-selling author. Follow Grant on Facebook, Instagram and YouTube.

4. ‘Learn a high-income skill.’


“If you don’t have money to start a business, then don’t start a business. Instead, spend your $100 on books and training to learn a skill that will make you $10,000 per month or more.

Choose a high-income skill that helps organizations bring in revenue, such as copywriting, marketing or sales. You can learn them relatively quickly and they’re transferable across many industries.

Once you make enough money, you can turn your side hustle into a full-time job. Then, scale and invest your profits. That’s how you build real wealth. If you’re persistent and good at what you do, you’ll get there. But it won’t happen overnight, so take baby steps. ”

—Dan Lok, global educator, best-selling author of “Unlock It!” and founder of Closers.com. Follow Dan on YouTube, Facebook and Instagram.

5. ‘Write an e-book.’


“Six years ago, I hired someone for $100 to design my first e-book, ‘Crush The CPA Exam Study Guide.’ It only took about a week to create — and all I had to do was write the copy. It’s been selling on autopilot ever since, and I’ve made at least $100,000 as a result. It was shockingly easy.

Use your knowledge and resources to write a book. Then, pay a designer from a global freelancing platform (e.g., Upwork) $100 to make it look nice and incentive people to sell it for you through an affiliate marketing program. Simply contact the websites that show up in Google when you search for your e-book topic (e.g., type in ‘best CPA study guides’).

Offer to pay them a commission for any sales they send to you. When you leverage their traffic and the trust they have built with their audience, you don’t even have to build a website. ”

—Bryce Welker, CEO of online education company Crush Empire and founder of Crush The CPA Exam. Follow Bryce on LinkedIn.
For more info visit
https://wealthscheme./2019/09/04/how-to-turn-100-into-1-million-according-to-9-self-made-millionaires/

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