How To Become A Millionaire Fast | The Millionaire Jeff Lerner’s Story
A complete guide about how to become a millionaire fast, as Jeff Lerner one of the millionaires in the world will teach us
In this article, we are going to discuss some millionaire business ideas and we are going to find out how to become a millionaire fast by reading more about one of the millionaires called Jeff Lerner. But I should mention, reading this article does not make you rich quick but it’ll make you think about some possibilities about how to become a millionaire fast and some millionaire business ideas.
Introduction: The real meaning of how to become a millionaire fast
I want to qualify that statement in two specific ways. One is when I say millionaire, I don’t necessarily mean make $1 million because frankly, most people who make $1 million, they’re still not technically a millionaire.
Millionaire usually actually means somebody with $1 million net worth like assets minus liabilities on a balance sheet. And even then, some of it’s debatable, but frankly, I would argue that being a millionaire today doesn’t really mean what it meant when they, when the term kind of became, you know, a synonymous with like a rich person because frankly $1 million doesn’t go nearly as far today as it used to.
I like to say that 10 million is the new million. Depending on where you live $1 million, you know, just living off of relatively low-risk investments may not even get you a very good quality of life. When I say how to become a millionaire fast, what I really mean is whatever that means for you.
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If you are looking for “How to become a millionaire fast” that means you are looking to become financially free. They are basically the same.
Becoming financially free and hitting the standard where finances are not a part of, are not a stressful part of your life. So that’s the first qualifier that I want to make. The second qualifier that I want to make is about speed becoming a millionaire quickly. Obviously, we all want to become wealthy or successful as quickly as possible, but I don’t think that the focus so much should be on how quickly we can get the results. The focus should be on how quickly and decisively do we start to do the things in our life that are going to lead to the result because the result takes time.
About Jeff Lerner | A millionaire who will teach you how to become a millionaire fast
As somebody who decided, I guess I always knew I wanted to make a lot of money, but for whatever reason, like we do when we’re younger, I didn’t always live out according to what I said I wanted for my life and I made some choices that through my twenties meant that it was very unlikely that I was going to make much money At all, but it was around the time I was 28 years old because I just was tired of living poor and feeling stuck and feeling basically like I was going backward and I couldn’t afford the things I wanted, and I couldn’t take care of the people I wanted, and I ended up in a whole lot of debt because I always knew I wanted to own my own business, but I wasn’t very good at it. So I ended up getting in a hole and it’s just, I was 28 years old when basically I said enough’s enough. Like I’m going to get this part of my life together. And it even, even as a pretty quick study in what I decided to do, it still took years before I could say, Hey, I actually have like $1 million net worth.
You know, when I was 28 and I got into affiliate marketing on the, you know, my trusty computer, within less than a year, I was hitting upwards of 40 or $50,000 a month. But even at that level, you know, I had 10 or 20 grand a month going out on ads. And so then there was the net and then I had to pay for, you know, my other expenses. I had an assistant and then, you know, sometimes the cashflow would be delayed and I would have to front the advertising costs. Plus I had like over $400,000 in debt when I started. So I was having to make debt payments. Like it still took a year, several years, at least three or four years before I had the assets and the stability and the foundation. And that was after 12 years of struggling as an entrepreneur. So it was, it took three or four years once I actually started to do it right. And I started to do something that was working, but it took 12 years. I started trying, I started my first business or tried to. When I was 16 years old, and it wasn’t until I was 28 that I even basically had a business that actually worked.
You can’t accelerate through the fact the reality that it takes time, but what you can do is you can immediately implement things in your life that, you know, if you don’t do them, it’s guaranteed not to work. So when I talk about how to become a millionaire fast as possible, that’s what I mean is immediately doing the things in your life they’re going to put you on that road.
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Now, because I mentioned affiliate marketing as a way to become a millionaire fast, if you wanna know more about Amazon affiliate marketing, you can read this article too:
Top 3 Advice from Jeff Lerner | How to become a millionaire fast and some millionaire business ideas
So I’m going to give you three things that you can literally start doing that and it will have you on the path toward becoming a millionaire.
1- The first one is you have to decide right now that you are going to start saving something every single day. And I literally don’t care if it’s a penny or a nickel or a dime or a quarter or a dollar or a five or a 10 or a hundred bucks, whatever you can save at the end of every day, save it. And you might say, well, what? What good is it going to do me to save a penny a day? Right? The point is training yourself, getting yourself in the habit of expecting surplus. So many of us are conditioned or we’re not conditioned just because it’s our default setting. You know, as without the proper training and the proper conditioning, we sort of default to our natural state, right? Which is like, I’m hungry, I kill a rabbit and I eat the rabbit and now I’m not hungry anymore, but I can’t save the rabbit. It goes to waste. And then the next time I’m hungry, I kill a squirrel or I mean I’m using like hunter language, like old school Neanderthal language. But I mean just like the way we’re wired is like I need something, I go get it and now I’ve got it and now I don’t need it, so then I move on from there.
If you want to build wealth, you have to have a consistent surplus. You have to train yourself to be an accumulator of surplus. It’s, it’s the law of the farm.
If you’re not familiar with the law of the farm, read about the law of the farm. Stephen Covey talks about it by training yourself.
So, even if you make minimum wage and then by training yourself, say get to the end of every day. If you make let’s say eight bucks an hour, depending on where you live, 10 bucks an hour, 12 bucks, depending on what minimum wages. Say you make $100 in a day, save a dollar, live off of 99 because you will train yourself to start expecting surplus because, over time, the only thing that will actually make you wealthy is accumulated surplus. And what you can do with that surplus to create returns that can compound, that can grow into additional surplus. That’s the only thing that will ever make you wealthy. So if you don’t, if you aren’t accumulating surplus, some amount of surplus every day, then you’re living in a place where you’re exchanging everything you have for everything you think you need. And I get that. I get that.
As somebody, I was relatively poor, I mean I lived in a major city and never made more than $40,000 through most of my twenties, and some, some years it was less than that. I played jazz piano and I taught piano lessons. And I know that it’s hard when you think, man, I got all this stuff I need. I need food, I need rent, I need, you know, things that they’re legitimate necessities. And so you trade all your money to get those things and you think, well, I’m spending all my money because I have to get what I need. Right, but what you’re missing in that equation, and it took me a long time to realize this, is that you also need a surplus. Surplus is also a necessity. Surplus is just as much a necessity as health insurance, as food, as I would argue air. I mean it depends on what your standards are for life, but is surviving living or do you feel like in order to feel alive, you also want to thrive. You’re just, you’re never going to get off the treadmill if you don’t have surplus.
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2- The next thing that you can start doing right now today to put yourself on the path to becoming a millionaire is to check your attitude. And I don’t know a better way to illustrate this than just to tell a story.
I was involved in a deal where I guess to you know, shortcut the unnecessary details. Basically, I found myself in a situation where I was working in an office on a project. So my partner and I went down to this office in California to meet with some other guys that was their office and they were working on a project and we were kind of there to collaborate. But we realized through the situation that we were actually competing with each other. And so what was, what should have been a, or what was supposed to be kind of a positive meeting ended up becoming kind of negative and tense because we realized that the more we sat there and helped each other, the more we were helping create our own competition for the project. And plus there were just some, my partner and one of the other guys had like some history and some personality, you know, unresolved baggage kind of stuff.
Anyway, the whole day got super weird. It was me and my partner and then this other guy worked for the guy who we were there to meet with. I ended up reconnecting with him later and he talks about that day. He remembered that day he wasn’t the boss, he was just kind of an observer at that time in that room. But he said, I remember when things started to get really tense, and Jeff, you seemed to be the one who just maintained a level head and were really positive and really seem to think that, you know, look, we’re all people here. We all have an abundant universe. Like there’s plenty to go around. We don’t need to get at odds with each other. We can work through this and it can be fine. And even if we part and decide not to work together, that doesn’t mean it has to be a horrible, miserable experience.
Like he said, that was, you were the one that seemed to have that attitude in the midst of the whole situation. Well, the reason that’s significant is six years later that guy started a company and I reconnected with him and one thing led to another and I ended up doing a deal with him and I had, you know, I actually shot a video about this in the last year. I don’t remember the date exactly, but I shot a video about how I made $1 million in a day. I basically had a day where I closed the deal where I made, I had like a seven-figure day and the video was about how to make $1 million in a day. And the point of the video was, look, anybody can make $1 million in a day.
If you do enough things right and you show up the right way and, you have a positive attitude and, you connect enough people, and you make enough, you bring enough positive energy to where people start to attract and align with you and just really good stuff happens. But you can never predict how long it’s going to take and nobody can guarantee you when it’s going to happen
But anybody can have their million-dollar day if they line up enough pieces and they keep those pieces lined up and excited with their own energy and enthusiasm. And the number of other things that had to happen for that to happen is, you know, are they, are what I’m talking about, the daily effort, the work, the grind, the hustle, the, you know, doing it day by day, the compounding of daily activity.
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3- And then the final thing that you can start doing right now to become a millionaire as quickly as possible is to start thinking real estate! Think real estate in all things. And I don’t mean get involved in physical real estate necessarily, although I think that’s often a great move for people. And it’s something that’s a big part of my life.
Thinking in terms of the fundamentals of real estate, are rooted in a couple of principles, at least the type of real estate that I’m interested in. Longterm assets. And when I say long-term assets, I mean two things. In finance, the value of something is based on the predicted future cash flows associated with the thing discounted for various factors of risk. Like how certain is it, how probable is it, how tied to certain variables is it? How volatile is it?
I would argue that you know, anything you can create has value. You create a value of your job right now by saying, what are the predicted future cash flows of my job from the work? And what is the risk factor associated with either losing my job or me getting hurt or me getting sick or not being able to do the job or you know, essentially you take anything that produces income or produces some kind of cash flow? Value the future cash flows and discount them for risk and that’s the value of the asset. So that’s one way to value an asset.
But the other thing in looking at an asset is increasing the underlying asset over time? Is it increasing or decreasing? And yes, that has to do with predictive future cash flows, but it also has to do with the risk. And that’s why real estate is so good because at the end of the day, you never actually have the risk with real estate of it evaporating. Like it’s land, it’s not going anywhere. And if it’s a structure, it’s insured, usually at replacement value so you could get the structure back. The land and the structure are basically guaranteed to stay around. Whatever other factors may happen. There’s always less risk in that than just about anything else. That’s why banks will loan a lot more money on a leveraged basis on real estate than most other assets.
And so in terms of thinking real estate, what I mean is to be thinking about the future cash flows. Be thinking about the probability of the future cash flows and be thinking about the long-term certainty of the underlying asset. And when you start living your life, I mean all aspects of your life other than maybe personal stuff where you don’t expect any return.
It’s about your professional life, how much you get paid? how you exchange value with the world? your reputation, your business, your career, your industry, your productivity. You start running it all through that filter of saying, what are the cash flows? What’s the risk and what’s the underlying asset value? You will stop chasing a lot of the shiny objects that will tend to distract you in your pursuit of wealth.
For example, you might see a video about, Hey, here’s how I made $300 in a day on Snapchat and we go, Oh sweet, I could use 300 bucks. But immediately you’re thinking won’t be, well, what’s the value of $300 immediately your thinking will be what’s the value of the skill? Is it duplicatable? Does it, does it result in $300 per day? What’s the certainty or the probability of it continuing over time? Is it something that’s based on something that could change? Like if Snapchat makes a tweak to their system, the whole thing goes away? Or is it something that is going to get saturated and as more people do it, the opportunity’s not going to be there anymore. You’re going to change your focus instead of chasing after money or chasing after the latest, hottest new thing that somebody dangles in front of you. You’re going to become a long-term value-based investor with your time and your energy, and your resources. That’s millionaire thinking.
Now, those are three things that you can get started with right now today. Saving something every day. Practicing law of the farm, practicing surplus, checking your attitude, making sure you’re the most positive person in the room and you’re attracting all the right energy and thinking real estate, long-term future cash flows, and underlying asset value. Do all that. You will be on the path to millions.
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Thanks for your time.
