Becoming a millionaire has always been a dream of mine. Getting to at least one million dollars of net worth is an incredible milestone to achieve. According to a study from 2019, 29% of people think they’ll become millionaires in their lifetime. But how do they plan to do it? About 62% of respondents said they’ve outlined how to become a millionaire.
But now, in 2023, you can find many new ways to become a millionaire ( including playing games ). It won’t be easy, but as long as you can provide value to the internet, you will get money, no matter what.
Here’s our comprehensive list of the best ways to become a millionaire right now.
Table of Contents
1. Become a millionaire by Freelancing
Many people think that becoming a freelancer means sipping cocktails on the beach while looking at your MacBook Air. But the harsh reality is that you need to work hard as a freelancer even to earn an average wage. According to Brazen, on average, freelancers make around $21 an hour. The average freelancers work 36 hours a week, which means an annual pretax salary of more than $39,000.
Read more: How to Make $50K Per Year From Your Home
You’re never going to get to a million dollars if you trade your time for money. But how about if you’re paid per project? Well, this means you can get two or three projects at a time and even outsource some of the jobs to other freelancers. This way, you can scale the business and practically become an agency. But this is the way to become a freelancer millionaire.
Where to start? Upwork is your best bet. You can also find great opportunities on Fiver, Guru, and Freelancer.com.
2. Become a Millionaire with Affiliate Marketing
Yes, you can become a millionaire with affiliate marketing if you have a big audience on YouTube or your blog. Affiliate marketing is essentially a type of performance-based marketing in which businesses reward referrers ( affiliates ) for each sale they bring with their efforts. You can earn between 3% and 50% for each sale you get depending on the niche and the products. For example, YesCycling.com is an affiliate website that brings customers to bike manufacturers and Amazon. For each sale, this website earns 3%-5% as a commission.
Read more: How to Buy a Brand New Tesla Half Price in the UK
But is it even possible to become a millionaire with affiliate commissions? Hell, yeah! This business model is highly scalable and replicable, so you can create 2-3-4 websites or YouTube channels and bring more traffic to your affiliate offers, thus making more sales. After all, you need only $84K per month to become a millionaire in a year.
Where to start? Create your website or YouTube channel, publish a lot of content for a year or two, and monetize your traffic with affiliate marketing. Amazon Associates is one of the most popular affiliate programs for beginners. Pros prefer ShareASale, ClickBank, Rakuten, etc.
3. Become a Millionaire with YouTube
Setting up a YouTube channel is free and easy, but producing high-quality and engaging content is not straightforward. Vloggers that provide exciting content can earn millions from AdSense, sponsorships, digital products, and affiliate programs. To mention a few that made huge bucks from YouTube check:
Read more: 22 Ways to Make $300 a Week
4. Become a Millionaire with an Online Store
Creating an online store is easier than you think. Today we have tools like Shopify, WooCommerce, and Magento that help us create and maintain even a large online store. Just pick a profitable niche, choose between dropshipping and or holding your products, and start selling online.
Online businesses are among the fastest-growing and most profitable ones in the world right now. According to NYU Stern School of Business, an excellent gross profit margin for online retail is around 45.25%, which is enormous compared to brick-and-mortar businesses. Those high gross margins mean a big chance to become a millionaire with an online store.
5. Become a Social Media Influencer
According to a survey from Morning Consult, social influencing has become so popular these days that nearly 86% of people ages 13 to 38 are willing to try out influencing. The truth is that the average influencer can take home between $30K and $100K per year, but users with more than 1 million followers can take home even $100K per sponsored post.
For example, Kylie Jenner can make more than $1 million per sponsored post shared with her 164 million followers on Instagram. Yes, this is nuts! But remember that you should always comply with FTC’s rules when it comes to social media influence. Here’s how to become an influencer in just a few steps:
- Choose a niche and social media.
- Fill in your social media profiles.
- Create relevant content and be consistent
- Engage with other influencers and brands.
- Monetize with ads or sponsorships.
6. Become a Millionaire by Blogging
The truth is that blogging has become more saturated than ever, and it is super challenging to make some money. But you can still take home huge paychecks from ads, sponsorships, and affiliate marketing with your blog. Blogging is very similar to YouTube, but your content is in written format. This means you need to write good, engaging content. Not everyone can do that, but if you have the gift of writing well and are willing to share your life with the world, you can make good money from it.
According to a study, only 4% make over $10,000 a month from blogging, but you can always stack up income streams to your way to a million. Here you can find some great sources of inspiration for beginners bloggers:
7. Become a Millionaire with Day Trading
Day traders target stocks, options, futures, commodities, or cryptocurrencies, holding positions for hours or minutes before selling again. They almost never hold positions overnight. The idea here is to profit from short-term price movements. Day trading is definitely not suitable for beginners, and you need to learn a lot of things before starting out. But once you get the basics, and get some experience with paper trading, you might start to make a profit.
Yes, day trading is very difficult, but if you get it right, you can take home a huge amount of money. It takes a lot of discipline, patience, and some capital to start trading. You also need to understand risk management to be a successful trader. Do you want to learn more about day trading? Take advice from one of the most popular and successful traders of all time – Timothy Sykes. This guy is a legend!
8. Become a Millionaire with Pokémon Cards
You’re probably wondering what this guy is talking about now, but let me tell you this. Pokémon Cards can be super expensive, the market is hotter than ever, and celebrities like Logan Paul put a spotlight on it as well. The real money makers right now are the cards from the original 1999 original base set. According to Dexerto.com, a booster box from that set can go from $34k (Unlimited) all the way up to $375k (1st Edition). These booster boxes are almost impossible to find right now.
But you can always use resources like ZandGEmporiom, which tracks sales of vintage sets to learn the basics. You need to understand very well which sets are currently selling high, and which sets are becoming more popular with time. Regularly check eBay for sets graded by PSA or Beckett, and start bidding. Another great strategy is to buy new sets from the last few years, which will probably also become collectibles in a few decades. New sets like 2019’s Hidden Fates are worth investing in. Yes, buying and selling Pokémon cards is not a quick get-rich scheme, but a unique, and interesting path for many people.
9. Become a Millionaire with Crypto Currencies
Ahh, crypto! Sooner or later, we always start talking about cryptocurrencies. You’re probably thinking that you’re getting too late into the crypto world, but remember that it’s never too late to invest in crypto. Cryptocurrencies like Bitcoin, Ethereum, Ripple, Dogecoin, Cardano, and many others have recently witnessed a global sell-off, which means the prices are now very good for long-term investors.
The most common way to make money with crypto is to buy and hold. Once the price rise enough, you sell for profit. Then repeat the process until you become a millionaire. What’s more, you can now use leverage to trade cryptocurrencies in crypto exchanges like Binance, Plus500, and even eToro. This way you can become a millionaire much faster. But remember, trading with leverage is very risky, and you might lose all your money.
10. Become a Millionaire with Non-Fungible Tokens (NFTs)
NFTs or non-fungible tokens are digital art pieces that are unique and can’t be replaced. You can create practically anything in a digital art form – from a tweet to a gif. For example, Jack Dorsey, Twitter’s founder, and CEO, sells his first tweet as a NFT for $2.9 million. NFTs are Ethereum-based assets, and they’re powered by smart contracts on the Ethereum blockchain.
If you’re interested in this way to become rich, check our article about the best NFT marketplaces right now.
CROSSROAD
— Nifty Gateway (@niftygateway) February 25, 2021
By @beeple
The #1/1 from beeple’s first NG drop has just resold on the secondary market for $6.6 million.
History has just been made.
Congrats to beeple and of course to @pablorfraile for the sale. pic.twitter.com/mTYG4VABSw
If you’re an artist, you should definitely try to monetize your way to a million with NFT’s. If you’re not, you can still trade for a profit. I would suggest reading this article from The Verge ( NFT’s, explained ). Here’s a quick summary of the top 5 most valuable NFT’s ever sold:
- Beeple’s “EVERYDAYS: THE FIRST 5000 DAYS”: $69 million
- CryptoPunk #3100: $7.58 million
- CryptoPunk #7804: $7.57 million
- Beeple’s “Crossroads”: $6.6 million
- Jack Dorsey (and Twitter’s) first-ever tweet: $2.9 million
11. Become a millionaire by podcasting
Podcasting has become a dynamic and lucrative avenue for content creation in the digital age. This platform offers an excellent opportunity to engage with audiences on a deeper level, often delivering long-form content that delves into topics in depth. As you establish a loyal listener base and a reputation for quality content, monetization becomes possible through various channels, including sponsorships, ads, listener donations, and merchandise sales.
One of the biggest success stories in podcasting is Joe Rogan, host of “The Joe Rogan Experience.” Rogan leverages his background as a comedian and UFC commentator to engage his audience with a wide array of guests, from celebrities and musicians to entrepreneurs and intellectuals. His distinctive interviewing style and a broad choice of topics have won him a vast listener base. His success reached unprecedented heights when Spotify signed an exclusive deal with him in 2020, reportedly worth more than $100 million, highlighting the potential profitability of podcasting when done right.
12. Become a millionaire by doing software development
Software development is a powerful avenue to financial success in our increasingly digital world. As a software developer, you have the opportunity to create solutions that meet specific needs or solve particular problems in various sectors, from business and education to healthcare and entertainment. The possibilities are endless: you could develop a popular mobile app, create a unique game, or even build an innovative software-as-a-service (SaaS) platform.
One stellar example of software development success is Jan Koum and Brian Acton, the co-founders of WhatsApp. They identified a need for a straightforward, cost-effective communication method that would work universally, regardless of the device or location. The application they developed rapidly gained popularity due to its user-friendly interface and functionality, ultimately leading to Facebook acquiring WhatsApp for $19 billion in 2014.
Final Thoughts
The prospect of becoming a millionaire may seem daunting, but the digital revolution has opened up a plethora of opportunities to achieve this milestone. Whether you choose to become a freelancer, explore affiliate marketing, harness the power of YouTube, build an online store, influence social media, or even trade Pokémon cards, the potential for financial success is out there waiting to be tapped. Cryptocurrencies, Non-Fungible Tokens (NFTs), podcasting, and software development further expand the horizon of opportunities.
These methods aren’t a one-size-fits-all solution, but they offer a starting point. They require hard work, strategic thinking, and sometimes a bit of luck. The key lies in identifying what you are passionate about and leveraging that passion to provide value to others.
It’s crucial to remember that wealth often comes as a byproduct of delivering significant value to a large number of people. There’s no foolproof way to becoming a millionaire, but the avenues outlined in this article provide various paths that can lead you to that goal. Dive in, learn continuously, take risks, and who knows? You might just be the next success story in the world of digital millionaires.
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