Becoming a millionaire is no easy task. That’s true especially if you are living in a very poor region. If you live in places like Silicon Valley and you have the perfect skills you might become a millionaire without much effort. However you will be an ordinary millionaire. This is due to the high costs of living in Silicon Valley. You will find couples in this region failing to purchase homes whilst making more than 300,000 USD combined. You should know that in this location all home owners are actually millionaires.
Becoming a millionaire after college
The odds that one will ever become a millionaire are very low. Even in developed nations such as the United States. The truth is that the millionaire life is out of touch for most of the world population. Most people are going to be born and die in the slums and simple houses. However in the developed world and in some middle income countries, the odds of becoming a millionaire are actually higher. In the United States the best way to achieve millionaire status before retiring is to earn a college degree. People with college degrees are actually more likely to be millionaires. Especially those in highly specialized fields. For instance a college graduate who is a Neurosurgeon can expect to earn around $400,000 on average. With sound monetary practices they could become a millionaire in as little as 8 years practicing. However I should remind you that it takes around 14 years of post-high school education to become a neurosurgeon. That includes college, medical school and residency.
Becoming a millionaire through sound investments.
Another long way to become a millionaire is to save and invest. However this is not for the faint of heart. It can take years to achieve millionaire status through this route. However if you start early you most definitely will make it!