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How To Be A Millionaire In 5 Years Or Less

As most of us assume to become millionaires in a few years without doing hard work, but the fact is not possible. Becoming a millionaire in five years is only possible through our hard work. So, I have discussed some of the routes by which we can become millionaires in a few years.

The purpose of this blog is to share my journey in trying to achieve financial freedom in 5 years or less. I will share the strategies I am using in my business and personal life to consistently save money, grow my income stream, and reduce expenses.

Create a wealth vision

“When riches begin to come they come so quickly, in such great abundance, that one wonders where they have been hiding during all those lean years.” — Napoleon Hill

Step one of becoming financially successful is to create a vision for yourself financially. 

How much imagination do you have for your future?

Do you see huge potential and possibilities for your life?

Or, do you see a pretty average life?

Creating a vision is an iterative process. You don’t just create a vision once and then never look at it again.

You continually create and write your vision — every single day.

Look at any area of your life in which you’re doing well, and you’ll find it’s because you see something beyond what you currently have. By that same token, look at any area of your life that isn’t exceptional, and you’ll find that you don’t see something beyond what you currently have.

Most people are living in and repeating the past.

Having a vision is focused on the future.

Your life and behavior immediately shift when you begin imagining a different future and stridently strive for it.

To do this, you must obliterate your need for consistency. From a psychological perspective, people generally feel the need to be viewed by others as consistent. This need causes people to retain behavioral patterns, environments, and relationships that are ultimately destructive and unsatisfying for far too long.

Instead, you could abandon your need to be viewed as consistent by others. You can be OK with the fact that you’re not perfect. You can be OK with messing up. You can be OK with having values you stand for and goals you want to accomplish, regardless of what those around you think.

Having a vision for your life means you no longer care what other people think of you. It means you’re ready to begin actually living the life you want. It means you’re no longer going to just go with the flow, as you have for most of your life. It means that regardless of what your parents, peers, and social environment have presented to you thus far, you’re going to create the life you want.

The more detailed your vision the better. The more quantifiable your vision the better.

Your brain loves numbers and events. These are tangible. Thus, your vision should center around specific numbers and key events.

For example:

  • “I will be making $1,000,000/year by January 1, 2022.”
  • “I will get a check for over $100,000 by October 2020.”
  • “I will take a six week vacation in Thailand in the next six months.”

Quantify it.

Measure it.

Get excited by it.

The more detailed the vision in your mind, the more believable it will be to you.

It’s OK if you don’t know exactly what you want right now. Having more money, creating powerful experiences, and continually growing as a person are all goals that will push you in the right direction.

As you build confidence through successive, small wins over time, your vision and imagination will expand.

Thus, in order for your vision to become clarified and congruent with your values and genuine desires, you’ll need to start building confidence.

That’s where the next step comes in.

2. Develop a 90-day system for measuring progress/future pacing

The following are four questions Dan Sullivan, founder of Strategic Coach, has his clients answer every 90 days:

“Winning Achievements? Looking back over the past quarter, what are the things that make you the proudest about what you have achieved?”

“What’s Hot? When you look at everything that’s going on today, which areas of focus and progress are making you the most confident?”

“Bigger and Better? Now, looking ahead at the next quarter, what new things are giving you the greatest sense of excitement?”

“What are the five new ‘jumps’ you can now achieve that will make your next 90 days a great quarter regardless of what else happens?”

Every 90 days, you want to review the previous 90 days and then set measurable and challenging goals for the next 90 days.

In the book “The Art of Learning,” Josh Waitzkin said:

“Short-term goals can be useful developmental tools if they are balanced within a nurturing long-term philosophy. Too much sheltering from results can be stunting.”

Short-term goals are how you build progress. Working toward a timeline is crucial for productivity. Focusing on only a few key milestones each 90 days is how you build momentum.

Every 90 days, when you look back on the previous 90 days, you want a system for tracking your learning and progress. You want to get out of your routine environment and take a recovery break. Tim Ferriss calls this mini-retirements.

Every 90 days, you want to take a few days off. You want to get away where you can ponder, reflect, think, visualize, strategize, and play.

During this recovery session, you want to pull out your journal and take time to reflect on the previous 90 days.

What went well?

What were your key wins?

What did you learn?

What has you most excited?

Where do you need to pivot?

Given what you’ve done and what you’ve learned, what do you want to do in the next 90 days?

What two to five jumps or wins will make the biggest difference toward your ideal vision?

Every 90 days, when you review your progress, you could be increasing your confidence, because confidence comes from watching yourself succeed.

Very few people truly take time to reflect on what they’ve actually done. We’re very good at seeing where we’re coming up short. We are less reflective of where we’ve succeeded.

Chances are, you don’t even remember what you ate for lunch three days ago.

Chances are, you don’t recognize all of the good things you’ve done in the past 90 days. However, you can train your brain to notice, focus, and pay attention to the progress you’re making. When you begin seeing progress, you’ll start to feel excited.

These feelings are very important.

Feeling movement and momentum gives confidence.

Confidence is the bedrock of imagination, action, and power.

Want more confidence?

Start setting short-term goals (every 30–90 days), track your progress, count your wins, recover, reset, and start again.

When you have a big vision, you don’t need to make HUGE progress every day. You only need to take a step or two forward daily. You then track that progress and watch as the compounding effects take over.

Every 90 days, track the key areas of your life.

Track your money.

Track your health.

Track your time.

Track the progress in the areas you want to succeed in.

Develop a daily routine to live in a flow/peak state

“Assume the feeling of your wish fulfilled.” — Neville Goddard

Alright — so you’ve created a big picture vision that inspires you.

You’ve also set 90-day short-term goals to help you build confidence and keep you progressing on that path.

Now, you need a daily routine to keep yourself inflow.

If you can get yourself into a flow-state every single day, and live in and operate from that flow state, you’re going to feel really good.

It is your responsibility to organize your life so you can be in flow as much as possible. In positive psychology, a flow state, also known as being in the zone, is the mental state in which you are fully immersed in a feeling of energized focus, full involvement, and enjoyment.

In essence, flow is characterized by complete absorption in what one does, and a resulting loss in one’s sense of space and time.

That’s a great way to live.

Flow creates high performance.

High performance creates confidence.

Confidence creates imagination and excitement.

Imagination and excitement lead you to thinking bigger and differently about yourself and your life.

With that in mind, it’s key to look at why most people are not in flow most of the time. Not surprisingly, it starts first thing in the morning. Momentum is activated with the first decision of your day. Rather than proactively putting themselves into a flow state, most people put themselves into an unconsciously reactive state.

People are not the product of habits, they are the product of environments (see point four below). According to Stanford psychologist and behavior expert, BJ Fogg, design beats willpower. Design is about how you’ve set things up. Most people have not designed their environment for flow. Instead, most people’s environment and life have been set up for continual distraction, which is the opposite of flow.

Flow is something that must be designed for.

You have to decide to live inflow. You have to commit to it. The reason flow is so commonplace in extreme sports is because extreme sports require a great deal of commitment, risk, and focus.

If a motocross rider loses focus while trying a backflip over a 100-foot dirt jump, they could die. Therefore, the situation evokes a deep flow.

Flow comes by not over-thinking it.

Flow comes when you just let it happen.

For example, when I’m writing a blog post, my best writing is when I stop thinking altogether. I just let it rip.

That’s how high performance works. You put in the preparation, then you just let your body take over.

When it comes to morning routines, the primary purpose is to put yourself into a flow or peak state. There are some useful activities for putting yourself into flow.

First, you want to change your environment to change your mindset. Begin visualizing and imagining your desired future. Affirm powerfully to yourself that you are going to achieve that future. Florence Shinn stated, “Faith knows it has already received and acts accordingly.”

That’s what morning routines are all about. You put your mind into the mode of your future. You emotionally commit and connect with that future. You then are that future self.

You act as that future self would act.

This is why the need for consistency needs to drop from your life.

Instead of being consistent with who you’ve been, you want to be consistent with who you’re going to be. If you’re going to be a millionaire, you need to start acting like one now.

Recent research studied the brains of actors with MRI machines. What they found is that, when the actors were in character, their brains showed significant change.

In other words, acting a different role changes your brain. And this is actually what you want to do every morning in your morning routine.

Rather than triggering the brain of your former self and addictions, you want to trigger the brain of your desired self, or character.

Who do you want to be?

Imagine that self.

Feel that self.

Assume the feeling of your wish fulfilled.

Affirm the reality of that self.

Know that what you want, you can have.

Commit big.

Invest yourself in that reality.

Begin, right now, acting consistent with that reality.

Enjoy the rush of flow that comes from being present and congruent.

Design your environment for clarity, recovery, and creativity

“A lot of people think we are creatures of habit but we’re not. We are creatures of environment.” — Roger Hamilton

In order to truly upgrade your life, you can’t just set goals, build morning routines, and begin acting differently.

You need to reshape your environment.

You need an environment that matches the future you plan to create.

You need an environment that not only resonates with your values and vision, but also propels your values and vision.

Most people’s environment is like a rushing river, going the opposite direction of where they want to go. It takes a lot of willpower to tread upstream. It’s exhausting. Instead, you want your environment to pull you in the direction you want to go.

You want to proactively surround yourself with people who inspire you.

How many role models do you regularly encounter?

How many role models are you helping?

Different environments have different purposes. You want separate environments for rest and rejuvenation, for focus and work, for meditation and clarity, and excitement and fun.

The more mindful you become as a person, the more you realize that you and your environment are two parts of the same whole. You cannot disconnect yourself from your environment. Therefore, you want to be mindful and intentional about your environment.

This means that you do not contaminate recovery environments with things like cell phones. If you’re going to go to the beach to relax, don’t ruin that amazing opportunity by bringing your phone.

When you change a part, you change the whole system. Don’t spoil the whole barrel with one bad apple.

How to become a millionaire in 5 years

Becoming a millionaire in five years is an extremely aggressive goal, but it could happen. Although hitting a home run with an investment is what dreams are made of, the most realistic path is to put aside big chunks of money every year. The historical average return for the S&P 500 index is 8%. With that return, you’d have to invest $157,830 each year for five years in order to reach $1 million.

Account balanceCumulative amount investedEarnings per yearTotal earnings
Starting balance$157,830
After one year$170,456$157,830$12,626$12,626
After two years$354,549$315,660$26,263$38,889
After three years$553,370$473,490$40,991$79,880
After four years$768,096$631,320$56,896$136,776
After five years$1,000,000$789,150$74,074$210,850

Obviously investing almost $160,000 each year is not much of an option for the average American household, which makes $78,500 before taxes and living expenses. High-income earners are the most likely people to be able to invest this much on a regular basis. Their professions might include doctors, business owners, and corporate executives.

Monitor your net worth

Just because you may not have a job making this much money doesn’t mean you can’t achieve the goal of having $1 million in five years. There are other ways to make a lot of money:

  • Become a real estate investor. Start with wholesale real estate to make quick money, then start buying your own properties to either rent or flip.
  • Start your own business. Business ownership can be risky, but the rewards can also be massive. There are a lot of small businesses you can start for $1,000 or less.
  • Work for a startup. Companies that are just starting out often give shares of stock to early employees instead of large salaries. If that company goes public or gets bought, your shares could be worth a lot of money.

“I look at my net worth every day when I wake up in the morning and have my morning coffee,” Grant writes. “There are few greater motivations than seeing this number rise over time. No matter where you start from. I have been tracking my net worth for the past five years and my first balance was $2.26.”

He monitors his net worth using, which allows you to link all of your financial accounts and displays your assets and liabilities. (Personal Capital does something similar.) Plus, it tracks your spending. “At the end of the each year I take a deeper dive into this data and track what I have spent the past year on everything so I can work to improve my spending,” he writes.

If bad habits are holding you back, don’t fret. Even the Millennial Millionaire is human: “In 2012 I discovered that I had spent over $3,000 on Mexican take-out food in one year, which is insane and taught me a lesson,” Grant writes.


Becoming a millionaire is a lot about working hard. But it’s also about hard work, smart work and it takes a lot of thinking. I’d like to share a few examples of how to make a million in 5 years or less through my thoughts on business creation and what you can do better tomorrow.

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