Is business the only way to become a millionaire?
"Not at all. The Millionaire Next Door offers a book full of anecdotes on couples that earned money and saved their way to being millionaires. I believe about 1/3 or so had businesses, but the rest were employed and simply saved wisely.  $3860/yr saved for 40 years at 8% will return $1M. Adjust the numbers to hit a million sooner or reach a higher goal.  The Author might be accused of survey bias. This is the phenomenon of studying the final results without looking at the pool of people years prior. Little Adv' is correct that while 1/3 of millionaires may have gotten that way by starting a business, that says nothing about how many businesses need to start to find the one millionaire that resulted.  I view the book more as a lesson of ""spend beneath your means"" and focus on his anecdotes of the dual income couples who saved their way to this status. If you are in no rush, get this book from your library and spend the few hours to read it. In response to my Friend Dilip's comment, MoneyChimp offers a good look at compound growth (for the S&P) over time. The 40 years ending 2012, which obviously include the 'lost decade,' returned a CAGR of 9.78%. Not to be confused with the average 11.43%. When I pull the numbers for each year's return and apply an annual $3860 deposit, the 40 years ends with $2.2M. A 1% fee, or 1% lower return resulted in $1.6M.  If 8% isn't conservative, of course you can run the numbers you wish. The 40 years contained both a lost decade and two great ones. Will the 3 decades post-lost average to get the Quad-Decade period to 8%+? I don't know." That's actually a pretty good way to get bankrupt quick. You can get rich quick through lottery, gambling, mere saving or investing wisely, or marrying someone from the Kennedy or Bush clans. Starting a business is one of the ways to become a millionaire, but definitely not the only one.
If by being a millionaire you mean dollar millionaire then I doubt that it is really that easy in Pakistani context. At present the exchange rate is 107 Pakistani rupees per US dollar so even with this exchange rate, to have a million US dollars means having 107 million rupees of wealth. Now with this maths in mind you can very well calculate how much possible it is for an average 25 years old Pakistani to have that much wealth. And by the time you have 107 million Pakistani rupees of wealth the exchange rate against the US dollar would have only gone up against Pakistani currency. That article which you have mentioned makes calculations in US context and dollar terms. However if you talk only in terms of your country's context then being a millionaire means having 1 million rupees of wealth and that is something which is quite achievable with your salary and within very short span of time. "I'll go ahead and reply for fun, I'm not trying to get into a heated debate on the internet lol. Having said that, there is a big difference between Herbalife and Amway. I saw a documentary on Netflix called betting on zero, I think you might enjoy that documentary.  The thing is that Amway is the largest debt free organization in the world pulling in over a billion dollars a month and paying back to their IBOs $5 billion in 2016. Again, debt free. There is a book by robert kiyosaki called the business of the 21st century and he talks about MLM as the best way to take people from being employees to being entrepreneurs. In the real world you have to go millions of dollars to start any traditional franchise like McDonald's for instance. Or buy real estate you need a ""small loan of a million dollars"" like trumps father haha.  My overhead for my business is $120 a month roughly. This is something I can afford without going into debt to start a business. The people I am being mentored by are absolutely the best in North America (Seattle) and they have been debt free millionaires since the 80s. If the people trying to con you into joining their smoothie club don't have that level of success I would follow the advice everyone on reddit loves to give ""run away"". You want to follow people who have the results you want in life." "Yelp is a plague upon this earth, especially for small business owners.   I'd say it's symbolic of a flawed, cancerous line of reasoning that is somehow making its way even into the health care system as well as other sectors of business. That is: survey feedback.  Don't get me wrong; consumer/customer feedback is important. But, one has to take into account that usually only people with poor experiences tend to voice loudly, so results become skewed on the spectrums of consumers. Furthermore, many reviews are simply insane -- i.e. biased experiences due to a bad day, another customer, or something else entirely unrelated or unreasonable to their experience. Don't even get me started on peoples' bias towards Asian restaurants that aren't galvanized into PF Chang's style service.   Why the fuck do people go to MBA programs if they're going to put so much stock into such ""ratings"". It creates needless stress while providing a poor lens for understanding things. At best, it's a tool not a religion. At least, I presume people running the business end of hospitals are MBAs.  The customer is always right is only true insofar as how you treat them at the time of service. Secondly, reviewers aren't always right." Millionaires, by definition of being millionaires (having a million dollars), save more money than the poor.  That means more of the unemployment check will go to savings rather than being spent in the economy.  Which means that it will not stimulate the economy as much if given to a millionaire.  The whole point of unemployment is that it gets spent into the economy immediately, and that is why it is one of the most effective forms of stimulus.  The money would not be spent on the economy immediately if it were given to a millionaire.  &gt;You want to withhold unemployment insurance from rich people because you don't think they are worthy.  Tell me where I said that. As you can tell from books already posted here, the way you asked the question is very broad. If you want the nuts and bolts of running a business with more than 10 people here are some I'd recommend.  Kiss Theory Goodbye by Prosen Mastering the Rockefeller Habits by Harnis Awesomely Simple by Spense  See my other reviews of business books at https://www.librarything.com/catalog/BizCoach Read the game of numbers by nick Murray.  You have to find money to call yourself a money manager and most of the job is sales. You won't stay in business if you're bad at managing it, but step #1 is finding something to manage.  Hani "Entrepreneurship is the solution.  Everyone just wants ""a job"".  Why not make your own, then eventually provide jobs for others?  Stop thinking of life as a random string of jobs until you retire.  Create, invent, and provide something useful to society.  You'll have a happier life and you'll be bettering this world." The trouble is that you're conflating crime with success. There are plenty of successful businessmen who have done absolutely nothing to you. Indeed, there are many whose only crime is that they provide goods and services that people want more than yours. Yet you would punish them as surely as any wall street banker who deliberately defrauded the people. Indeed, you would punish them with crushing taxation even whilst you fail to punish those who committed actual crimes and actually do deserve to be punished. This is why you're being ignored -- because you're attempting to disguise your greed as righteous indignation, and when someone points it out to you, you feign ignorance. I'm sorry, but we're not going to live our lives for you. You need to get a job.