Which 10 Of Us Will Become Millionaires?

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Education & Training with Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals.

  

Does becoming a "millionaire" appeal to you? A million dollars doesn't go as far as it used to but it's still a lot of money and a worthy goal.

I was reading some interesting statistics the other day about how one could go about becoming a millionaire. According to the chart, which came from a USA TODAY analyst, here are some ways of going about attaining a million dollars... and what the odds are:

Inheriting $1 Million                               12 million to 1

Winning the lottery                                12 million to 1

Winning at casino slots                          6 million to 1

Winning a game show                            4 million to 1

Saving $800 month for 30 years             1.5 million to 1

Working for a dot-com that goes public   10,000 to 1

Owning a small business                       1,000 to 1

Clearly the most likely way to make a million dollars is by investing your time and effort into your own business.

We real estate agents are all, quite literally, running our own business so it's a matter of making a plan and working the plan.

With over 10,000 members at A.R., that means 10 of us should become millionaires. Will you be one of them?

Carol Williams,
Wenatchee Real Estate Agent

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"The best way to predict the future is to create it!"
- Peter Drucker

"Information is FREE. Knowledge, Experience & Integrity Are Priceless."

-Carol Williams

Retired: Real Estate Broker/Owner, Property Manager 
Coaching, goal setting and marketing consultant by appt.

Active: Golf & Travel Blogger
"Golf isn't a sport. It's a lifestyle."
SeniorWomenGolfers.com
TopTeamCarol@gmail.com


 

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Rainer
26,741
inactive AR account
Dayton, OH

Carol-

Fascinating way to look at it and it illustrates the "Big Secret"- "Success is less complicated than most people make it."

Dec 05, 2006 02:00 PM #1
Rainmaker
1,309,791
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager
Theresa,  Thanks for stopping by my blog.  I was surprised to learn we have a better chance of winning on a game show than winning at the casino slots!  Hmmmmm
Dec 05, 2006 03:41 PM #2
Rainmaker
311,669
Brian Brady
San Diego VA Home Loans/858-777-9751 - San Diego, CA
858-777-9751

I'l bet there are more than 10 here already.  This is a pretty talented community.

Good advice! 

Dec 05, 2006 05:07 PM #3
Rainmaker
45,029
Sue Melhorn
The Bean Group - Dover, NH
Dover, NH Realtor
I can only hope I will be one of them!!  One of my professors told me in college that the best way to make the most money is to go into business for yourself.  It took me a few years to figure out what that niche might be until a friend coaxed me into real estate.  Here's hoping I made the right choice and you and he are right! 
Dec 06, 2006 04:03 AM #4
Rainmaker
1,309,791
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Brian:  I bet you're right... so maybe there will be 10 more!

Sue: No reason why YOU can't be one of them.

I think communities like Active Rain will improve the odds... maybe down to 500 to 1???  Not that bad of odds.

Dec 06, 2006 09:08 AM #5
Ambassador
1,652,783
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection
There are many talented people so I am sure you will have alot more millionaires.  It really doesn't matter to me one way or the other I just want to live a full like and help others to do the same.
Dec 06, 2006 01:40 PM #6
Rainmaker
1,309,791
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager
Jennifer, I'm with you!  Being a millionaire is intriqueing but it's not a must for me.  My goal is to make a good living, help a lot of people and have a happy family life!
Dec 06, 2006 02:32 PM #7
Rainer
10,932
Norm Fisher
Royal LePage Saskatoon Real Estate - Saskatoon, SK
Given the fact that our profession provides no "pension plan" it should probably be everybody's goal to "be a millionaire" unless you have some other reliable income source.  In truth, if we retire at 60 and live til 90, a million bucks is not going to have us living in the lap of luxury.
Dec 06, 2006 10:51 PM #8
Rainer
15,226
Joanne Brown
Rockland County Real Estate - Nanuet, NY

Norm, Our pension plan is profit sharing, we have to recruit.  I was at a meeting today where Mo Abassi shared his knowledge.

the guy is great, he is funny, smart, could sell you anything and shares that anyone can do it.  You would never take a second look at him if he didn't speak.  and boy, he does that well.

thank you for an easy way to look at this Carol, I've been so counting on the lottery for a while now.

Dec 07, 2006 12:57 PM #9
Rainer
29,352
David Recker
Connect Realty - http://www.NCRealEstateWeb.com - Rocky Mount, NC
Carol - Interesting statistics...thanks for sharing
Dec 08, 2006 10:41 AM #10
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Carol Williams

Retired Agent / Broker / Property Manager
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