5 ways to become a millionaire — starting with as little as $10
Who wants to be a millionaire?
Even if those words don’t strike a nostalgic chord, you might be eagerly raising your hand, anyway. Because, of course you want $1 million. And it doesn’t have to be hard to start the process of getting there.
If you’ve got $10 and a smartphone in your pocket, you’ve got the tools you need to be on your way to seven figures.
Save $5 and get $5 in free stocks
Start your investing journey with just $10 — and put up only half of that yourself.
One investing app helps you build wealth $5 at a time — and will even kick in a $5 bonus to get you started.
You can stash away funds for yourself, your retirement and even for your kids through the app. Just let it know how much you want to contribute each week, and the app’s robots will put your money into the best investments, to grow and achieve your goals.
You also can pick and choose stocks yourself, if you feel like backing your favorite companies. But, unless you’re a professional stockbroker, you might just want to let the investing app handle that part for you.
Get paid $10 for saving your spare change
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This is as easy as saving money can possibly get: There’s a robo-advisor app that lets you invest spare change while you shop.
Here’s how it works: Say you buy a coffee for $2.25. Swipe your card, and the app automatically rounds up the purchase to $3, and sticks the leftover 75 cents into your investment portfolio. Like a super-charged piggy bank.
You don’t have to think about stocks or pick lint off of the change in your pocket. Just connect the account to any debit and credit cards you use , and the app automates everything for you.
Plus, you can get a $10 bonus added to your account as soon as you make your first investment. That’s like filling up your whole coffee punch card.
Score up to $200 in free stock
You’ll get one full share of a stock worth up to $200 when you open an account with another famous investment app.
Opt for ready-made funds designed to meet your investment goals, or choose individual stocks yourself — and you’ll pay zero commissions on trades.
When you sign up for a free account, you’ll get a free share of stock chosen at random from the most popular companies on the brokerage. The luckiest 1% get a share worth between $50 and $200.
Most users get a share worth between $2.50 and $10 — which is, after all, $10 closer to your $1 million.
Start building a real estate empire
If you have your heart set on getting into the real estate game, you don’t need to be a millionaire to do it.
One investing service makes it possible to put money into high-end real estate properties without spending a fortune.
It’s a lot like buying stocks, only instead of getting a piece of a company, you get a share of real estate. You’re basically crowdfunding the purchase of properties all over the country, from commercial developments in Los Angeles to residential buildings in New York.
You’ll have a diverse portfolio of properties that would usually be available to big-time real estate investors, and receive payouts through quarterly dividend distributions.
Plans start with minimums of $10 invested, with a flat 0.15% annual investment advisory fee and a 0.85% asset management fee. That works out to $10 a year for every $1,000 invested.
Spend a little for $1M in life insurance
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Signing up for life insurance used to be a colossal pain in the neck and a major time-suck, with phone calls and medical exams. Free online services did away with the rigamarole and let you see your quote online in seconds, then allow you to select your coverage and apply in just a few minutes.
Today’s policies are simple, too. No pushy sales conversations or complicated jargon.
These services often offer term life policies of 10, 15, 20, 25 or 30 years, with coverage from $50,000 to $1.5 million. Depending on your coverage and your circumstances, you could pay as little as $16 a month for $1 million in coverage.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.