![](https://financeblvd.com/wp-content/uploads/2019/09/6-_20-for-web_crp-1000x600.jpg)
How These Self-Made Millionaires Made $1 Million From $100!
![](https://financeblvd.com/wp-content/uploads/2019/09/6-_20-for-web_crp-1000x600.jpg)
Savings are part of life, and while we may fall short at times, most of us have at least been on a long saving streak that we can be proud of. And while saving is well and good, what do we do with the cash once we have accumulated a considerable sum?
Unfortunately, most people fall into the trap of wasting it, negating the importance of having saved it up in the first place. This mistake, according to high-profile self-made millionaires, is why you are yet to make your first million.
Luckily, they don’t just criticize us and then leave us high and dry. Instead, they give us tips on how to turn that $100 you have in your savings account into a cool $1 million. Sounds too good to be true? Let’s dive in.
![](https://financeblvd.com/wp-content/uploads/2022/10/333913383_927976584898547_3074934874259933705_n.jpg)
Bethenny Frankel/Instagram | In Bethenny Frankel’s case, emotional investments have never failed her!
Emotional Investments
Bethenny Frankel of the “RHONY” and founder of Skinnygirl says that investing in things you love is a sure bet to acquiring wealth. Making emotional investments, she says, is how she does it herself. When making smart real estate moves, Frankel chooses locations she wouldn’t mind living in, and this ace up her sleeve has never failed her.
She also advises you to find some of your like-minded friends with each of their $100, combine them, then make a collective and aggressive investment.
VaynerX CEO and founder Gary Vaynerchuk, for his part, says that buying and reselling items for profit is how to go about making that first million. However, it’s not as simple as he makes it sound. It calls for lots of self-discipline and patience.
![](https://financeblvd.com/wp-content/uploads/2022/10/263738926_464880921887913_6096596772186447960_n.jpg)
Gary Vee/Instagram | In Gary’s own words, self-discipline and patience are key
According to his advice, once you have that $100, find underpriced items in garage sales, then find out how much they’ve sold for on eBay. If it’s at a handsome profit, buy and sell them too. The more difficult part, he says, is saving proceeds from this venture till you have at least $100,000. This amount is now what you invest, then watch it make millions.
Grant Cardone, CEO and founder of Cardone Enterprise, thinks that the fastest way to make $1 million from $100 is by investing in oneself. As he puts it, putting that $100 into a book, audio program, course, or event will help you develop a new set of skills, in addition to helping you make connections (networking) and increasing your knowledge.
All these, he confirms, set up a firm base for a financial explosion waiting to happen. And if he did it, why can’t you?
Your Skill Set is Paramount
Dan Lok, on the other hand, opines that one creates wealth thanks to the set of skills they have. To this end, he says that instead of spending your savings on a business that may not sustain itself, use the cash to learn a skill that, once perfected, will bring you $10,000 monthly at the very least.
![](https://financeblvd.com/wp-content/uploads/2022/10/209249874_2976091952678638_3884253697447484103_n.jpg)
Dan Lok/Instagram | Dan Lok insists on perfecting your skill set
However, don’t just get comfortable with your monthly earnings. Invest whatever profits you make, and if you’re aggressive and persistent, you’ll be well on your way to joining the millionaires’ club.
With how fast social media is growing, is there any doubt that if properly tapped, it can bring you a fortune? And that’s exactly what Torben Platzer, CEO and founder of TPA Media, believes. Use your savings to create and promote your personal brand on these platforms and soon enough, people with deep pockets will come calling.
More in Bank Stories
-
How to Lock In a ‘Good’ APR on Your Personal Loans?
When it comes to borrowing, understanding the intricacies of the Annual Percentage Rate (APR) can feel like deciphering a secret code....
March 13, 2024 -
How to Find the Best Personal Loan With Easy Monthly Payments in 2024
A personal loan is an amount of money borrowed from a financial institution, which you pay back in regular monthly payments...
March 8, 2024 -
Why Italy Tops the List for Solo Adventurers
Forget the guidebooks and ditch the group tours. If your soul craves an adventure that’s uniquely yours, then pack your bags...
March 3, 2024 -
From Talking Cars to AI: The Latest Car Tech at CES
Imagine having a chatty companion on your next road trip. One that tells jokes, remembers your preferences, and even helps plan...
February 24, 2024 -
Know the Pros & Cons of Personal Loans Before Applying!
Are you eyeing a personal loan, perhaps to consolidate debt, finance a home renovation, or cover an unexpected expense? Before you...
February 17, 2024 -
What Are Some Major Benefits of a Business Bank Account & How to Open One?
A business bank account is not just a fancy accessory. It is a necessity. Imagine your business as a high-performance vehicle....
February 7, 2024 -
Navigating the Ties Between Love, Living Together, and Financial Security in Retirement
Picture this: you’re nearing retirement, a time for relaxation and enjoying the fruits of your life’s hard work. But here’s a...
January 29, 2024 -
Top 5 Superyachts of 2022
In a world where social distancing became the buzzword, the allure of superyachts took on an even more glittering appeal in...
January 23, 2024 -
Mark Cuban’s Proven Tips for Business Success
Dive into the dynamic world of entrepreneurship with the maverick mind of Mark Cuban, a serial entrepreneur whose $4.6 billion fortune...
January 20, 2024
You must be logged in to post a comment Login