Yes, it sounds like classic clickbait. But, it’s actually very possible to amass or rebuild your wealth starting with very little money.
IF you have the right mindset…
When Michael Carroll won the UK lottery at just 19, he couldn’t wait to enjoy his £10 million windfall.
And enjoy, he did.
He blew the whole lot in a few short years of partying, flash cars, and legal fees. Today, he lives in a modest rented house in Scotland and works as a coalman for £10 an hour – and claims he’s happier than ever.
This happens a lot, although maybe not to such an extreme.
It’s said that if you give someone with a poor financial mindset a heap of money, they won’t be able to ‘handle it’ and in no time at all, they’ll end up losing it and being back where they started.
They weren’t mentally prepared for it.
On the other hand, when you take away the fortune of someone with a ‘millionaire mindset’, before too long, they’ll likely be back to being rich.
There’s plenty of examples, but Dorothy Hamill springs to my mind.
After winning the US a gold medal for figure skating at the 1976 Winter Olympics, Dorothy started endorsing products left, right and centre and became very rich as a result.
After some bad financial decisions, she filed for bankruptcy in 1996. But since, she’s rebuilt her wealth through her writing, and television and movie deals. Today, she’s worth $5 million.
The difference between a poor mentality and a millionaire mentality
Rich people don’t watch much TV or read trashy magazines, they read books and educate themselves on all things money.
BTW, as you’re reading this article instead of Who magazine, I can tell you have the millionaire mindset 😉
It comes as no surprise that financially savvy people don’t waste their money. They usually drive modest cars and aren’t bothered about buying the latest iPhone – they’re busy using their money to invest in their businesses to make even more money.
With the right mentality, you’ll get rich somehow
But, you came here looking for a way to make $1 million, right? Well, here’s how I would do it!
My method for making $1 million starting with just $50
There’s a huge opportunity right now in approaching companies and selling their products on Amazon. Many companies overlook Amazon or just haven’t got the time to set themselves up on the platform and will be open to doing a deal with you to do it for them.
This is, in effect, consultancy work. It doesn’t really cost you anything to set up ($50 should easily cover it) and you can negotiate a percentage of each sale they make on Amazon – let’s say 7% is a good commission to aim for.
Once you’ve put the work in and listed their products, you could look to get more clients or use the income to invest in your own private label Amazon business.
From then on, who knows? When you have the right mentality, the sky is the limit!
That’s what I would do if I had to start again with $50. What about you guys and gals? What would you do?
Thanks for reading. Virtual hugs and kisses!