When I was just a wee lad, there used to be a red car that drove around in my neighborhood in the small city that I’m from in Oregon. I will never forget what’s the license plate of that car said. If you think yourself, yeah there were probably a lot of red cars in Oregon, well you’re right. But this was a particular red car, and I’ll never forget it because I come from a very small city in Oregon and there was only literally one nice car in my entire neighborhood where I grew up. The car was a brand-new red Corvette – at the time I remember thinking to myself it was the most beautiful car that I’d ever seen – the license plate said: “not yours.”
Then many years later after I got my first job as an accountant, I remember seeing a convertible Lamborghini as we were crossing the street to go to lunch with one of my co-workers who loved cars. I remember asking him how much does that convertible Lamborghini actually cost and he told me that it cost almost two hundred and fifty thousand dollars just for that car and I remember it would have taken me ten years of working non-stop 80 hour weeks saving every single after-tax dollar that I made to be able to afford that car.
I remember thinking to myself how on earth do some people have Lamborghinis, and that’s when I realized that no matter how hard you work if you’re not working at doing the right thing, you can never become a millionaire – period. You have to work hard for sure, but more importantly, you have to work smart, and you have to work toward the right thing if you even want a chance to become a millionaire.
I’m going to share the four industries that are most likely to make you become a millionaire in 2020. We’re not gonna be talking about gambling things like Forex and cryptocurrency and all of that. We’ll be talking about real long-term legitimate business industries that have made many millionaires and billionaires over the years and so we’re gonna start off with number four and count all the way down to the number one best industry to actually get into in 2020 if you want to become a millionaire.
4. Real Estate
There’s a famous saying that more millionaires are made in real estate than any other industry, but if that’s true, then why am I only mentioning it as the number four best option. Well, the main reason is it’s actually pretty hard to get involved in real estate from the start because most of the time in real estate it takes money to actually make money, which means that getting started with it can actually be pretty difficult, but the fact of the matter is that the population on planet earth has never been bigger and has never grown faster and everyone needs a place to live.
The truth is, the earth isn’t getting any bigger, and so if more and more people are constantly being born every day faster than ever before, that means that there is a finite amount of space to actually put real estate in houses and residences for all of those people, which means that real estate is getting bigger and bigger every single year.
3. Technology
Everyone’s heard of Amazon and Apple and YouTube and Aliexpress bestsellers, but technology is really so much more than that 50 years ago software development didn’t even exist, and now it’s one of the most highly sought after highest paying job opportunities in the world.
And the world is changing now more than it ever has. Before McDonald’s started to automate orders and get rid of a lot of their employees, Uber and Tesla are making automatically driving vehicles that will soon be going to be applied and completely replace the trucking industry. I know that all sounds overwhelming. How do I get started with artificial intelligence? You don’t have to. All you have to do to get involved in technology is to first be interested and curious about it and second, just think about how technology could make your own life more efficient. We’re talking about software, automation, efficiency, manufacturing. Technology literally impacts and touches every single industry out there. Period. And just by being curious in technology and actually researching and learning more, you can claim your piece of the multiple trillion-dollar technology pie
2. Finance
When I say finance, I’m talking about money. I’m talking about stocks. I’m talking about actually how to manage money at a very high intellectual level. This area really is so vast – there are asset planners, financial planners, hedge fund managers. There are private equity and stock trading insurance companies brokerages.
The truth is, having a really deep understanding of money is one of the best ways to actually make your money multiply through intelligent investments and patience and things like the stock market. Remember, it was a famous saying from Warren Buffett that says it’s not about timing the market; it’s about time in the market.
And if you look at the stock market over the past ten years, you can see an absolutely unbelievable return for the patient people out there who just let their money sit in the stock market and appreciate year after year after year.
1. Education
Knowledge really is power and the more people that I meet and the older I get, the more I really realize this – just by finding one interesting or unique piece of information, you can literally create a huge business. If you’ve ever seen a movie called “War Dogs”, you’ll know exactly what I mean.
War Dogs is a story about two friends who learn about an obscure way to exploit a government initiative that allows them to bid on US military contracts in a way that the government legally had to pay them. There are people who learn about businesses before anyone else, through their connections, through their reputation, or just by caring more and talking to people. There are people who learn about Facebook, about Uber, and about Airbnb – before anyone else did and invest on the ground floor and made a fortune.
But it’s not just about educating yourself – it’s about educating others. With the invention of the Internet, you can now monetize your own skills in a way that you never could before. And if you have something valuable to teach – like digital marketing or e-commerce or you know a lot about relationships or you know out becoming healthy or getting into shape you can really make a significant amount of money actually teaching people what you already know.
You can create membership sites or masterminds or digital courses, or you can have in-person events again; the opportunities are endless.
