I've seen several people claim "making a million dollars isn't THAT hard these days". Heck, I've seen it here on this forum. Being a complete beginner with investing, business and finance, I wonder what strategy people have in mind for achieving this.
I did a web search, and it proved strikingly useless (you get a list of get-rich-quick sites).
So what do people mean by "it's easy" to make a million dollars? My guesses are that they mean
- (1) "Millionaire Next Door" style -- in other words, be extremely frugal for a long time
- (2) Find your niche, start a "lifestyle business" and persist with it
- (3) Invest some part of your income over a long period of time and let the stock market do the work
...or perhaps some other strategy? I realize that "a million dollars" is a completely arbitrary figure, but it's one people fixate on. Perhaps folks just meant it's getting easier because inflation has made it a far less lofty sum than when the word "millionaire" was coined.