How to Become a Millionaire With $5 a Day

Grant Wydeven

Become Rich With Compound Interest

To become a millionaire you need to be smart, creative, hard working, live off 4 hours of sleep and need a great idea….. OR you just need $5 a day. Here I’m going to show you how to become a millionaire with $5 a day. Here’s a hint: Compound interest makes you rich.

Video Transcript:

You’ve been told that to become a millionaire. You need to be smart, hardworking. You live off of three hours of sleep and come up with an amazing idea, like the pet rock and the Squatty potty. But what if, what if it only took just $5 a day? Dave Ramsey, put it a bit more blunt in saying that if you’re not a millionaire, by the time you retire.

You’re an idiot. And though that’s harsh, he has a good point. The strategy I’m sharing with you here today is so simple, requires just $5 a day and to know what to do with it. And I will promise you that you will become a millionaire. So if you truly want that kind of wealth and you want to become a millionaire, spare me just a couple of minutes of your time.

I’m going to show you how you can become a millionaire with only $5 a day. Okay. So there are two key concepts you need to, to understand in order for this to work first, you need to understand where and where not to be putting your $5 a day. And the second thing is understanding how your $5 is going to eventually grow into $1 million.

Plus, now, if you’re brand new to the channel, welcome, don’t forget to subscribe. So don’t miss out on anything similar to this and don’t forget to smash the like button as it really helps out with it channel. Oh, and don’t forget, stay tuned till the end. We’re I’ll, not only explained a different way to become a millionaire, but a way that can happen in a fraction of that time.

Sometimes as little as just five years, you yourself can be millionaire. So you don’t want to miss out on that. But first let’s talk about a common misconception on where you should be putting your money, because in order for you to grow your wealth in such an easy and simple way, such as $5 a day, you’re going to need to know where to put your money.

And one place you want to avoid, like the plague is your bank account. Now any financially sound individual will tell you it’s important to have savings. Don’t get me wrong. A nest egg is great, whether that be a six month or 12 month supply of funds in case your entire world starts to end. But after that, you should not be putting your money into savings anymore.

As every passing day, that money is worth less and less. You see, you see the interest rates that the banks are offering. You just simply can’t compete with the inflation rate that we get the average every single year where our money is basically just worth less. This is the opposite of making your money work for you and rather is just worth less and less money every passing day.

Yay. This is all because the average inflation rate is somewhere around 2% annually. And with bank interest rates hovering around fractions of a percent at the end of the year. It’s a it’s equivalent. Well, until you withdrawing 2% of your savings and just setting it on fire. All right. Here’s a fun fact for you.

I want to hear your answers down below. If you saved $5 every single day for 100 years, just putting it into your savings account. What do you think it would be worth after those hundred years come and below your answer? Surprisingly enough, it would only be worth $182,500 roughly. That’s quite sad, given the sheer amount of time we’re giving your money to grow.

And that is why you avoid putting your money into a savings account. Now that you understand that? Where should you be putting your money? Well, hopefully the obvious answer is to invest your money. Now you have a bunch of different options here on how you want to approach this. But the core thing here to understand is finally that your money is going to be working for you.

It no longer will be trading time for money and will continue to grow via compound interest. Some really, really good places to put your money that require almost zero market knowledge or any sort of work involved. Is things like index funds, mutual funds, or just a well diversified portfolio of blue chip stocks.

With a combination of bonds. The goal here in building wealth over the long period of time is not only substantial and consistent growth, but also to protect your money as well as we know just how volatile the stock market is. But as long as you do a good job, spreading yourself across dozens and dozens of different businesses with proven track records, either through your own research and handpicking them, or simply by.

Investing in index funds, you can almost guarantee average rates of return every single year, despite huge dips during bear markets and massive upswings in bull markets. In order to make yourself even more secure you’re in your investments and get a great rate of return you need to do. What’s called dollar cost averaging, and this works great with our method of putting just $5 a day to the market that equates to $150 a month.

By making consistent purchases of stocks every single month, you’re buying it at different price points. Let’s say in January, the prices are quite low at bargain prices and you’re getting a great deal. That means you’re just simply going to be buying more stocks that month. And then let’s say, come March.

The prices have completely skyrocketed. You’re still going to be purchasing $150 worth of stocks. It’s just this month, you are going to be receiving a less total number of them. This protects you from putting a massive chunk of your money into the market, just for it to take away huge dip. You’re spreading yourself safely across multiple price points.

So you can realize, so on that average annual increase. That we can suspect to be somewhere around seven, seven to 9%. All right. Well, now it’s time to break down the numbers because you’re probably thinking how can AC Starbucks coffee worth of money every single day, somehow equate to a million dollar sometime in the future.

And you remember right after I show you these numbers, I’m sharing with you how to become a millionaire in a fraction of the time, just a few years, if Paula, so don’t forget to stick around for that, but take a look at this. This is some incredible stuff. But you guys need to understand just how powerful compound interest actually is.

So here, we’re gonna take a look at my computer.

If you were to invest $150 every single month consistently for 50 years, you would be worth 1,039,000. Dollars. And that’s with an average rate of return of just 8%. If you somehow manage to get into an investment that gave you a 10% return in a 50 year period of time, you would be worth over $2 million and you would be a millionaire by year 43, shaving off seven years of time.

And this is just with $5 a day. Let’s see what it would look like. If you contributed, let’s say $10 a day and you were able to put 300 away each month. In 50 years, years, you would be worth $2 million. And if with a 10% return 4.2 million, okay. Now, is this strategy fast? Absolutely not. It takes time for compound interest to really show its effects.

You saw just how fast that scale ramped up towards, I don’t know, the last 15 years or so, but where it lacks in time. It gains in just the sheer ease of doing this it’s $5 a day. Guys, you don’t need to be a genius or have an amazing idea or work hard. You can live your normal life. As long as you contribute $5 a day, you are guaranteed to be worth a million dollars by retirement age.

Which goes back to Dave Ramsey’s quote, it’s something, this exists. You have zero. Excuse why you shouldn’t be millionaire by the time you were. But if you’re like me and you want to build wealth faster than this, and you want to be millionaire well before, even your thirties, hopefully your mid twenties.

Then bear with me for a second. Now I have a few you videos on my channel that you absolutely need to check out. If you’re interested in building walls really, really quickly, I have a few that go over how to start a business with $0 million and how to grow eCommerce businesses to upwards of six figures every single day.

Now, if that’s not your style and you’re not into marketing, I do real estate investing as well. I have a video where you can buy houses for zero money down and with bad credit. Thanks to the help of wholesalers. This can allow you to quieter properties for zero money of your own. Getting a great rental property with cashflow every month and immediately increasing your net worth by tens of thousands of dollars per house.

Real estate investing has made more millionaires than anything. Nothing else in this world. On top of that, there are more and more people. My age. Becoming millionaires every single day through online businesses. And e-commerce, if you’re interested in building wealth very, very quickly, I suggest you check out those videos.

I want to thank you you again for watching this one. Don’t forget to like, if you haven’t already comment down below yourself, any feedback you have, or if you have any questions at all and difficult subscribes to miss out on any of my future videos, I wish you the best of luck and I will see you in my next one.