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What are the odds of becoming a millionaire?

Well that depends upon the method you choose.

Let’s say you’re short on ideas, and your business plan consists of buying a Lottery ticket. The odds of winning the U.K. lottery? 14 million to one.

Odds of winning the Euro lottery? 140 million to one.

If you’re entrepreneurial, you could start a business and sell it for a fortune – 40% of businesses go bust within 5 years.

Returning to gambling, and you like the casino, the odds of you losing on roulette when betting on red or black or greater than 50%.

None of those odds are very attractive. So lets examine a method of becoming a millionaire with much, much better odds.

If you work for a company and you’re contracted to £8.5 per hour, the chance of you getting £8.5 per hour is 100% (so long as you don’t work for one of the 40% that went bust that is).

Investing only 2 hours of your weekly wage in an index tracking pension fund from age 18 to retirement, gets you over £2 million – pretty much guaranteed. You could spend the remainder of your earnings on wine, women and song. Sex and drugs and rock ‘n’ roll. But so long as you invested 2 hours per week of your salary, you’d be a multi millionaire. Now that’s a much less riskier means of becoming wealthy that ANYONE can achieve.

Don’t be Stupid. Don’t be Normal

 

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