How to Become a Millionaire: Different Paths to Financial Freedom

Do you dream of becoming a millionaire but are unsure of how to do it? You're not alone. Joining the millionaire's club is a top-tier financial goal that many strive to achieve. While building a million-dollar net worth from scratch can seem daunting, all you have to do is map out a strategy that will work for you. 

The good thing is there are multiple avenues that you can exploit to grow your money and accumulate long-term wealth. In this article, we'll be taking you through the three main paths that lead to millionaire town.

Path 1: The Builder

Among the many millionaires, there's one who had to work his or her butt off business-wise to become rich. This is a millionaire who relentlessly built his or her business from scratch and grew it into a million-dollar enterprise. He or she can be referred to as a builder.

For example, my high school friend Michael is a builder. Michael was our class's computer brain box, and his decision not to attend college took many of us by surprise. We'd all expected that being a smart kid, Michael would opt for the conventional path of attending college, getting a well-paying IT job, and, at least, living happily ever after.

Hoewver, during our high school graduation, Michael told his friends that he was partnering with Bob, a friend, to build a gaming platform. Michael had always dreamed of owning a software company, and he drooled on and on about his imaginary company. His secret class nickname was the dreamer.

Actually, by 12th grade, Michael was already doing exciting things with his tech know-how. While the rest of us were knee-deep in books, Michael had built a cops and robbers video game that quickly became popular amongst teenagers. Through the numerous streams and downloads, Michael could save money, which he would later use as business capital for his company.

 To add to that, Michael was a professional video game player during his free time. In the 8 or so months of grade 12, his gaming skills were raking in a couple of thousand dollars a month. This wasn't much, but it didn't stop him from noticing the gaming industry's untapped potential.

So while the rest of his classmates veered off to chase degrees, Michael opted to attend coding boot camps and video game programming workshops. These tech-driven pieces of training contributed significantly to sharpening his skills. Eventually, this quaking passion for computers and video games birthed his first gaming studio, Mike Tech. 

With time, his studio gained flaring popularity among young people, and despite the challenges that came with running it, Michael stuck his head through the mud. He would work for up to 16 hours a day during the initial stages of the business. To add to that, he had to make sure he had paid the few people helping him run the gaming business.

In three years, he and Bob had acquired funding for setting up their game and company. They did so at a time when the gaming industry was booming among kids and adults alike. Fast forward seven years later, Bob and Michael are self-made millionaires. 

Their gaming company is raking in seven figures annually, and they are glad they veered from the educational path the rest of their peers had chosen. What was once only a fantasy has come true. 

Although the entrepreneurship path had its fair share of challenges, it reserved Michael a seat at the millionaire's table.

Path 2: The Executive

From Forbes' list of billionaires, you're bound to find those who build their fortune from netting large annual incomes. Also known as the executive, this millionaire defies all employment odds and climbs the financial ladder en route to great wealth.