RSS FeedIs it possible to accumulate liquid funds of 1 million $ over a timeframe of 10 years ?
If yes, which of the following ways would be the best way to achieve this: (initial capital 10,000$)
1. investing in the stockmarket
2. trading commodities
3. trading forex
4. real estate
5. start an online retailing business
6. create an online affiliate website
7. buying and selling on ebay
8. Something else ?
winning the lottery is not an option !.
(I asked that question before, I just want to get more opinions on this as its an interesting question for everyone.)
1 million $ in 10 years ?
Posted by admin on July 18th, 2010
Posted in Commodity Forex Trading 
It takes money to make money. My bet would probably lie in real estate.
If there was a way to turn $10,000 in $1,000,000 in only 10 years, we’d all be doing it
sorry dude.
It can NEVER happen in the stock market.
In order to convert 10 thousand dollars to a million, you will need to yield 59% capital appreciation EVERY YEAR for each of those ten years.
You will not be able to do this in real estate either, because you don’t have enough initial capital, and the interest rates you’ll pay to borrow will destroy most of your gains.
Buying and selling on Ebay is very difficult to net huge profits unless you have very good sources of merchandise at rock bottom prices (i would bet half of the Ebay powersellers are selling stolen goods).
Your only hope to earn 59% profits ten years in a row is to start up a unique, successful company/business with few competitors using a patented, copyrighted, trademarked, and/or closely guarded secret formula that no one (especially the Chinese) can copy and steal from you.
Better yet, develop an awesome product or service and get bought out by one of the big boys for 20 million dollars in ten years.
You have the answers. You just have to narrow them down to what you like to do – then do it!
I must say, you ARE WAY ahead oif most of the folks. BUT HOW MANY of the above do you like to do – or know how to do?
You are definitely "in the right church". NOW you have to pick the right pew.
I wish you well!
VTY,
Ron B.
This is a very good question and I congratulate you on two points. First, you are starting with a realistic bankroll of $10,000. Second, you are giving yourself a fair amount of time to achieve your goal.
To grow $10k into $1M you would need to double your money 7 times. For a 10 year period this would mean that we need to double our money every 17 months (120/7).
Using The Rule of 72 we know that to duble our money in 17 months you would need to earn 4.25% per month (72/17).
If we take a look at your list numbers 5, 6 and 7 would take a while to get established and face quite a bit of competition so I would eliminate them.
Real estate has always been a pretty good investment vehicle but I doubt $10,000 would get us into the type of properties that we would need to double our money in 17 months even with some decent leverage. The real estate market is also in a correction cycle right now so there are some unknowns.
Numbers 1 and 2 are worthy of consideration but I personally have kept away from the stock and commodities markets for three years due to the ability for boards and sneaky individuals to manipulate data and companies. I don’t trust any of ‘em.
This homes us in on the marketspace that I have been finding success in for the past four years…..forex.
It is quite possible to generate a consistent monthly return of 4.25% or more using conservative strategies that minimize market risks, eliminate emotion and maximize sound money management principles.
The other thing you need to keep in mind is the impact of taxes. You can address this by managing your account as a self directed IRA or creating a corporation through which you can operate your Forex trading.
Thanks again for the great question and let me know if you need any assistance or advice.
Paul
pupp52@yahoo.com
It is easily possible if you are disciplined and stick to your goal. A well known fact is that $10000 invested in Microsft 15 years ago with all dividends reinvested is currently worth about $2 million.
Forex is good if you are a professional, but $10000 would be wiped out in the blink of an eye if you do not have the skills necessary to make it profitable.
Some consider successful investing, doubling your money every 5 to 6 years. So the task of getting to 1 mil is quite the challenge. You would have to double your money every 16 months. Possible but not likely without a huge amount of risk, luck and skill. If any of us who provide answers on Yahoo knew this answer they would not be reading these questions for sure.