35+ Passive Income Quotes to Fuel Your Financial Ambitions

So, you want to know how to become a millionaire with no money? Okay, well, first things first. You can’t. You can’t become a millionaire with no money. Becoming a millionaire requires money, and there’s no way around this fact.

Sure, you can get started on your journey to becoming a millionaire without a penny to your name. But eventually, accumulating money in some way shape or form, will be required for you to become a millionaire.

Why? Because being a millionaire is nothing more than having a million dollars or more either saved up in a bank, or one million dollars or more put to work for you inside of a vibrant and growing investment.

That said, if you want to know how to become a millionaire when starting from zero, without being given a large inheritance, or winning the lottery, it is certainly possible. Becoming a millionaire is doable and easier than you might think, even if you are starting with nothing. So, if you’re ready to discover exactly what it takes to become a millionaire with no money to start with, then let’s dive right in:


1. Desire a Million Dollars

The first thing that has to be done before you can ever become a millionaire, is you actually desiring to become one. You have to truly want to become a millionaire. If it’s just a wish, chances are extremely high it will never happen. We’re not saying it won’t happen, just that without desire, the odds are not in your favor.

Think about it, we all wish for countless things every single day. Usually the wish is just a passing thought of how nice it would be if we acquired it. A wish is passive, it will take if it comes, but it won’t actively pursue.

And that’s what makes all the difference between a wish and a desire. A wish says, “Oh wouldn’t that be nice to have”, while a desire says, “I really really want to become a millionaire, and I think I will.” Genuinely desiring a million dollars is the real-world starting point to actually acquiring it.

Related: Think and Grow Rich

2. Decide To Become a Millionaire

Your next step is to 100% decide to become a millionaire. This is the point where you’re done dreaming of becoming a millionaire, and now you’ve committed to doing whatever it takes to become one.

Decision is you making up your mind to do something, anything, to begin the process of inching yourself closer to your million dollars.

That said, once you decide to become a millionaire, your actual chances of achieving the goal increase exponentially. We dare say, that once you’ve made the decision, nothing short of an act of God, or a severe accident will keep you from reaching your aim.

You will have to be patient, disciplined, creative, and focused, but once you’ve decide, the price is easy to pay.

3. Discover Your Millionaire Timeline

Once you’ve made up your mind, the next logical step for you is to simply establish your personal timeline. This step will set the stage for what you’ll need to do to go about achieving your million, and how often you’ll need to do that thing.

One of the best ways to choose your timeline, is to use a tool like this Investment Calculator. You’ll simply put how much money you currently have to start with, and a time horizon that you’ll want to reach a million by.

Now, you’ll have to play with the numbers a bit. You’ll want to enter in various amounts for different durations (10 years, 15 years, 20 years, 30 years etc…), your return rate (10% is most reasonable to expect – but not guaranteed), and how much you think you’ll be able to contribute every month.

becoming a millionaire with no money

The example above shows how you can become a millionaire with no money, or better said, when you are starting at zero. So, assuming you have zero in the bank or invested, if you put a modest $485 a month into investments that earn you on average 10% per year, you’d become a millionaire in 30 years.

Of course, you’ll want to give the calculator a few test runs based off your unique situation of when you want to become a millionaire by, and how much you’re willing to hustle to make it so. But, after crunching the numbers, you should now know how much you’ll need to contribute every single month, and how patient you’ll have to be till you reach your goal.

This new information should lead you to the next step.

4 Invest Your Money, Don’t Just Save It

Once you’ve discovered how much time it will take to reach that coveted “millionaire status”, and how much your willing to put aside each month to reach your goal, you’ll have to take action on investing your money.

The easiest way to do this, is to set up an account at a financial brokerage. Once you have an account set up, then you just need to do some research on the investments the meet your needs in terms of risk and returns.

If you’re not too savvy on stocks or investment vehicles, indexes are a great place to start. In fact, Warren Buffett recommends this vehicle for most investors.[1]

Then, you can just simply set up an automated transfer or purchasing program to snatch up the investments you chosen in a methodical manner.

Of course, if the stock market is not your thing, you could always invest in real estate, bonds, or crypto. Or you could invest in a handful of each. The important thing here, is to just get started with investing. Because the longer you wait, the longer it’s going to take for you to become a millionaire.

5. Earn More, To Invest More

Earning more money can certainly help you become a millionaire faster. In fact, based on the calculations you did earlier, you should now know if you need to find a new job or seek out a raise. Or if you’re okay just keeping things the same.

Quick disclaimer, earning more money doesn’t guarantee you’ll become a millionaire faster, it only improves your chances of doing so. Why is this the case?

Because if you spend the extra money you earn, instead of investing it, you won’t be moving the needle or reducing the time it takes to get to your goal. The key here, is that if you’re going to make more money, you’ll need to be disciplined enough to put the extra money away and/or invest it.

The great news is, the more intentional your are about making more money to become a millionaire, they more you’ll put towards investments, and the quicker you’ll achieve your goal.

6. Cut Expenses To Invest Even More

Another great way to accelerate your investing tempo, is to look for creative ways to cut expenses. Take a look at where your money goes every month, and then assess if you’re okay with how you’re spending it.

If you notice that you’re spending too much money eating out, scale things back some and invest the difference. Think you’re over-doing it by always having the newest tech or fashion? Scale back on those purchases and invest the difference.

If you really look closely at where all your money goes every month, you’ll be sure to find a good chunk of money that would better serve you if it were invested in an asset that grows in value over time.

7. Create Multiple Sources of Income

If you’ve already maxed out your income with the job you currently have, and you’ve already transitioned to a higher paying job, the next best thing you can do to accelerate your ability to become a millionaire is to create multiple sources of income.

This could be anything from a starting a side hustle, getting a second job, choosing to self-publish a book. It doesn’t really matter what it is, just that you have multiple sources.

How many sources should you strive for? Well, that’s up to you, but the data from a study of millionaires across the country show us the following:

  • 65% of millionaires have 3 sources of income.
  • 45% have 4 sources of income.
  • 29% have 5 or more.[2]

Below is just a small sample of the many different sources of income you can consider. It’s not in any way an exhaustive list.

Just think of each source of income as small stream or river. The more streams you have contributing, the larger your pool of income will be. And the larger your pool of income gets, the more you’ll have to pour into investments.

If you build enough streams that contribute consistently and long enough, you’ll become a millionaire in no time at all.

Bonus: Improve Your Millionaire Mindset

Here’s one last bonus tip on how to become a millionaire with no money. It basically boils down to working on your self-image and improving your mindset.

Let’s call it, your millionaire mindset. Working on this is important, because before you can do a something, you must first be something.

For example, the professional football player thinks about becoming a pro day and night long before he becomes one. All of his two-a-days, summer training, spring training, and years of practice eventually lead him to the prize, the pros.

Another example, is the Hollywood actor or actress. These thespians dream of making it on to big screen for decades before they ever get their break. They do countless shows for little pay, put in the time sometimes for no pay at all as they work on their craft. And eventually, they become what they longed for, a movie star.

The same mentality and mindset can be applied to becoming a millionaire. No one can really become a millionaire over night. Sure, some may get extremely lucky with a new software program, a viral startup, an invention, or an inheritance, but these are the rare exceptions, not the rule.

That said, here a handful of resources you can use to bolster your millionaire mindset on your journey to becoming one:

Remember, most people will have to plan to become a millionaire long before they actually become one. They’ll have to act, think, and work like a millionaire before it happens.[3] So, cultivate your millionaire mindset, feed it, and watch it bloom as you near the ultimate prize; millions in your bank account.

Related: Get Rich With a Normal Job

Final Thoughts

Before we wrap things up, here’s a quick recap on how to become a millionaire with no money:

  • Desire a Million Dollars
  • Decide to Become a Millionaire
  • Discover Your Millionaire Timeline
  • Invest As Much As You Can
  • Earn As Much As You Can
  • Cut Expenses As Much as You Can
  • Create Multiple Sources of Income
  • Cultivate a Millionaire Mindset

If you employ these steps, and you do so consistently over time, there’s virtually no way you can fail at becoming a millionaire. Becoming a millionaire is not rocket science, in fact it’s really a very simple process. Of course, this process will require commitment, action, and lots of self-discipline on you part.

But if you can muster up the discipline to stick with this plan, the day will come when you can call yourself a millionaire.

Till you reach that aim,


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