How to Become a Millionaire in 10 Easy Steps

How to Become a Millionaire in 10 Easy Steps

How to Become a Millionaire in 10 Easy Steps

When I was a teenager, I remember vividly seeing my secondary school friend, Cory, getting picked up by his dad in his brand new Porsche 911 on the last day of the semester. The excitement, shock and thrill on my friend’s face said it all – Daddy finally got his dream car! It was at that moment I knew I wanted the best life had to offer and perhaps one day, become a millionaire. I mean, I was just as excited as Cory’s dad and Cory at the time, you would think it was my car lol…Unfortunately, I did not become a millionaire by 28 which was my original goal. However, I did realize it wasn’t just the money, the ‘cool points’ I was after, it was also the financial freedom. Learning how to get rich and understanding how money works became a strong focus from that moment onwards.

As I grew up, started to understand my purpose, embark on travel and adventure I began to understand how money works. It was clear that becoming rich would provide certain freedoms I couldn’t afford as a working or middle class individual.

This then led me to become financially literate and create a path to fulfil my true purpose and set on my financially free journey.

First things first…

financial freedom

What Does It Mean To Be A Millionaire

The definition of millionaire is an individual whose net worth or wealth is equal to or exceeds one million units of currency.

So let’s break this down…

Firstly, to calculate your net worth is simply to add up all of your assets and deduct them against your liabilities. So let’s say for example, Joe Bloggs has the following Assets:

  • Residential Property with no mortgage

  • Buy to Let Investment Properties

  • Stocks & Shares ISA

  • Cash in the Bank

  • Jewellery & Exquisite Timepieces

  • Pension Pot

  • General Investment Accounts

  • SIPP

  • Electronics

Let’s now say, these all calculated to a total of £1,500,000 in cumulative value. However, Joe Bloggs also has a few liabilities. These are as follows:

  • Car (Range Rover Sports) debt of £60,000

  • Buy to Let Mortgage Loan of £400,000

  • Credit Card Debt of £10,000

  • Personal Loan Debt of £30,000

These liabilities equal in total £500,000. When we deduct the £1,500,000 worth of Assets against the liabilities that total £500,000 we are left with Joe Blog having a net worth of £1,000,000.

This is one way to determine if you are a millionaire or not, some people prefer not to calculate it in this method due to online debates surrounding personal equity in a home being used for determining wealth. Some argue, this is unreasonable as we all need somewhere to live and if the property was not lived in, the individual would have to pay rent.

The second way to calculate whether or not you are a millionaire or not is simple. You just need to check if across your savings account and invested funds your liquid money equals £1,000,000.

millionaire status

Can Anyone Become A Millionaire

So many people think that becoming a millionaire is impossible. The notion that you can only become a millionaire if you are a ‘trust fund baby’ or if you inherit a mass amount of wealth in a will has been debunked by the plethora of self made millionaires over the last decade.

I personally believe that you do not need to be a Tik Tok superstar, create the next Facebook social media app, buy the next hot crypto to become a millionaire. All of these things absolutely work with the right strategy, but for the majority – only a small fraction of people actually can go viral, buy and ‘Hodl’ the right crypto or build a business to this type of level.

There are more straightforward methods which most, if not all of us can follow. The goal to become a millionaire in the UK with this process is a great achievement and you won’t need a six-figure salary either to become a millionaire. If you invest £10 a day you can become a millionaire with the power of compound interest (more on this later)…

How Many Millionaires Are There in The UK

According to Credit Suisse and their recent Wealth Report, the UK is home to nearly 2.85 million millionaires. Since these statistics compare the number of sterling millionaires in the UK and across nations using various currencies, they classify someone as a millionaire if they have assets worth more than $1 million (instead of pounds).

It’s key to note that this 2.85 million worth of millionaires has increased by over 10% since 2019 and the rate of new millionaires joining this list doesn’t seem to be slowing down. Many social media personalities like Andrew Tate, Tristan Tate, Gary Veynarchuck, Patrick Bet David and Grant Cardone have even stated that it is the easiest moment in history to become a millionaire. They have used the rationale of social media, cryptocurrencies, and the information era as the basis of this belief.

How Much Do I Need to Save or Invest to Become A Millionaire in 10 Years

There are numerous ways to become a millionaire in 10 years. Saving to a million is probably the longest way and investing will usually work out quicker for the majority. Allowing your money to work for you in the stock market or crypto market, bootstrapping a business and selling it, becoming the next social media sensation are all proven ways to become a millionaire in under 10 years.

Here are a few examples:

Example 1: You could create a savings account and save £100,000 a year and in your 10th year have £1,000,000 in cash.

Example 2: Invest £35,000 as an initial investment in an index fund and invest £60,000 a year in this index fund. Assuming 9% returns, after 10 years your continued investments and its growth would become over £1,020,000.

Example 3: (High Risk, Consult with a Financial Advisor): Invest and Hold Bitcoin, Ethereum and wait for the next bull run and sell. You would need £100,000 capital roughly now in 2023 to buy a large portfolio of Bitcoin and Ethereum.

Example 4: Buy a Camera and invest in your personal brand. Be creative and think outside the box. Create a list of 50 videos you plan to film in a niche, film them and go viral, sign brand campaign deals and scale your social media accounts and make millions.

The challenging part for a lot of these examples are for the saving and investing examples you will need to earn a high income, be comfortable investing at those levels and have the level of commitment you need to see it through over the 10 year course for your financial future and to build wealth. Although savings accounts can pay a reasonable amount of interest, around 4-5%, you are still losing purchasing power due to inflation as it outpaces interest accrued on your savings. 

Additionally, with examples 3 and 4 you need to have a higher risk appetite and a strong desire to become financially free before you consider an option like these. Also, for example 4 you would need to be comfortable on camera.

millionaire woman

10 Best Steps to Become A Millionaire

There are many ways to become a millionaire, and the most effective strategies vary depending on your personal strengths, interests, and resources. Here are some general steps you can take to increase your chances of achieving this goal:

  1. Set a specific financial goal

  2. Educate yourself

  3. Develop a high value skill

  4. Start a business

  5. Invest wisely

  6. Put money in a ISA

  7. Invest in Real Estate

  8. Put money in a workplace pension or corporate share scheme

  9. Live within your means

  10. Start a side hustle

Set a specific financial goal #1

Determine how much money you want to make and by when you want to achieve it. Make sure your goal is realistic and achievable. Work out if you want to sell a product, a service or if you want to invest monthly into financial instruments like Index Funds, ETFs and Dividend Stocks. Once you determine the avenue you want to go down, you can reverse engineer how much it will cost you per month saving money to invest to hit the million pound mark or how many sales you will need to generate to cash flow a million.

Educate yourself #2

Learn about personal finance, investing, and other strategies for growing your wealth. Consider taking courses, learning more about achieving financial independence and reading books on these topics. Opting in to our newsletter is a great resource and way to educate yourself on financial investment options and high value skills which can boost your income.

Develop a High Value Skill #3

Identify a skill or talent that is in demand and can be monetized. This could be a skill related to technology, finance, marketing, or any other field. I talk a lot about high value skills on my youtube and tiktok because this is what has given me the ability to invest more into my retirement fund. Learning a skill like search engine optimization, google ads, video editing as an example can allow you to charge clients $3-10k/a month. Learn more about how you can learn a high income skill and get mentored here.

Start a Business #4

Consider starting your own business or investing in a business that has the potential to generate significant profits. Be prepared to take calculated risks and work hard to make your venture successful. Starting an ecommerce store is a great option. Find a product or manufacture a product solving a problem, get started with Shopify and focus on marketing to drive sales.

Invest Wisely #5

Invest your money in stocks, real estate, or other assets that have the potential to appreciate in value over time. Be mindful of the risks and seek professional advice if necessary. There are many investment options out there. One thing common amongst all rich people is they take the time to invest and make regular contributions to investment accounts.

Some of the most popular investment options are:

  • Real Estate

  • Stocks

  • Art

  • Wine

  • Gold

  • Cryptocurrency

  • Businesses

  • Intellectual property (inventions you would patent and trademark)

investing for beginners

Put Money in a ISA #6

Investing into a stocks and shares ISA is a popular investment and one how to get rich in the UK. There are a few ISA millionaires. An ISA is a simple way to invest and save money at the same time. The return on your investment is not taxed. A Stocks and Shares ISA is a type of account and you decide how you want to invest in it. You can pay a total of £20,000 a year into ISAs each tax year in the UK (this runs from 6th April to 5th April). This is typically called an individual’s ISA allowance.

Invest in Real Estate #7

Did you know that “90% of all millionaires become so through owning real estate.” This famous quote from Andrew Carnegie, one of the wealthiest entrepreneurs of all time, is just as relevant today as it was more than a century ago. Some of the most successful entrepreneurs in the world have built their wealth through real estate. You could be the next millionaire from property.

This is how you can invest in real estate:

  • Buy and hold property allowing capital appreciation to work & sell

  • Buy, refurbish, refinance and rent

  • Buy, convert into a house with multiple occupation and rent

  • Buy and rent the property as a serviced accommodation on AirbNB and

  • Invest into a REIT

I cover a lot about real estate as an investor myself in a few buy to lets. Learn more here.

Put money in a workplace pension and or a corporate share scheme #8

If you work for a large organization, you usually get offered an opportunity to opt in to a workplace pension, a corporate share scheme to save and invest. This option can really set you up with a nice nest egg, especially if you buy shares and sell once a company valuation dramatically increases. If you are self employed, a workplace pension may not be an option, however you can set up a private pension like a Self invested personal pension (SIPP). This is something you may want to consult with a financial planner about.

Live within your means #9

Once you start making money, sometimes ‘lifestyle creep’ sets in. You want a better car, bigger house and designer clothes. It is so key you be mindful of this and your desires if you want to hit that millionaire status. If you want to fast track the millionaire dollar status, avoid keeping up with the Joneses and lifestyle creep. You ideally want to avoid overspending, focus on financial planning and live below your means. Save and invest a significant portion of your income to increase your wealth over time. The more money you keep and multiply is key to becoming a millionaire.

Start a side hustle #10

A side hustle has become a necessity for many. Inflation year on year has started to affect most of our pockets, the rise in living costs and the cost to simply survive has become no joke! Even if you have a high paying corporate job, so many people have started to turned to launching a side hustle to supplement their income. Of course, starting a side hustle isn’t only for those who want to make money. There are plenty of success stories of individuals who had no intention of being business owners who ended up turning their passion project eventually into a full time business. Now this doesn’t apply to all but simply put – there are numerous reasons why you could want to start a good side hustle. Check out our blog on the Top 10 Side Hustles here.

millionaire on private jet

Fast Ways to Become a Millionaire

Over the last few years, there have been a few noticeable people I have observed become millionaires at an accelerated rate. A lot of these methods below are available for anyone to get involved in:

  1. Social Media Marketing Agency

  2. Cryptocurrency, NFTs and DeFi

  3. Tik Tok Influencers

  4. Property Development

  5. Inheritance

  6. Becoming a Contractor & Juggling two to three contracts Outside IR35

  7. Lottery Win

  8. Selling a Business

  9. Blogging

People Who Became Millionaires Fast UK

The average age of a millionaire is 57 years old. It is important to remember, everyone will have a different journey to the millionaire pound status. These people are notable based on their age and how quick they were able to scale their business, personal brand and create a set of processes that allowed them to become successful.

  1. Iman Ghadzi became a millionaire through running a social media marketing agency and selling an online course

  2. Khaby Lame became a millionaire through Tik Tok and by not even speaking one word

  3. Eddy Zillan became a millionaire at 18 through cryptocurrency investing and cashing out during bull runs

  4. Adam Enfroy became a millionaire through blogging and wrote his first blog in 2019 and by 2022 he was a millionaire

How to Become a Millionaire with £10 a Day

I know for sure many people do not want to risk starting a business, potentially losing money and dedicating hours into building a company. I also know for a fact, becoming a consultant and doing outreach to get high ticket clients is just not for everybody too.

But this way I am about to show you is something everyone can do. You simply just need to budget and allocate £10 a day which is 2 cups of Starbucks coffee a day and maybe a blueberry muffin. If you want to become a millionaire and build wealth all you have to do is follow this formula.

Once you become 20, and if you are already 20 do this for me, share this blog to someone who is (a family member, nephew, niece, cousin, friend).

All you have to do is open a Stocks & Shares ISA. This is the one that I use, click here.

Start by committing to investing £10 per day into an index fund, continue to do so for the next 40 years. Now, if you decided to invest into an Index Fund that tracks the S&P 500 and you got an average return of 8.5% annually. Your investment account at 60 years old will be valued at one million pounds. Actually, you would be a millionaire by 58 because of compound interest, and taken into account your other possessions.

As long as you stay consistent, dedicate that £10/day around £300 a month into your index fund, the market will return a great return on your investment and you will be a millionaire.

Here is a link to my favorite compound interest calculator to work the numbers for yourself 

rich woman

New Millionaires In the UK & How they Made It

Some of these individuals in the list below come from generational wealth, while some others are actually self made millionaires. This is not to discredit or discourage you, but I thought it made sense to provide a distinction. The reality is, even if you are born into money, it takes work, a smart brain, drive and charisma to grow a business and continue scaling an existing empire.

Here are a few notable millionaires who are well known and a few new millionaires in the recent years

  1. Eddie Hearn – Matchroom Promotions

  2. Reece Wabara – Fashion

  3. Yvonne Bajela – VC Investor

  4. Yianni – Yiannimize Car Wrapping

  5. Claire Henderson & Mike – OhPolly

  6. Krept & Sasha – Nala Skincare

  7. Ben & Joe Gallagher – Lux Collective

  8. Sidemen – YouTube

  9. DMO Deejay – YouTube

  10. Abtin Abbasi – A Jewellers

Eddie Hearn

Eddie Hearn was not a great student and had an entrepreneurial flair from young. He helped to grow his dads existing business, MatchRoom promotions, into a £700M sports empire. Before doing so, he gained over 15 years experience before joining his dads business. He then went on to promote his first boxing event in 2012 at 33 years old and has since promoted 100+ fights helping to scale the revenue for the family business from £40M to £210 million a year.

eddie hearn

Reece Wabara

In 2017 Reece Wabara quit his professional career as a footballer and decided to invest into his own brand, ManiereDeVoir. Five years later, he has been ranked in the Times Young Rich List with an overall net worth of £26 Million. The decision to leave football now provides him with a more significant income than 20+ footballers also on the same Rich List.

reece wabara

Yvonne Bajela

Yvonne is a VC investor who has led £200M+ in investments in rising startups. She landed her first job as an analyst before getting into venture capital. 5 years later she became the youngest investment manager out of 90k employees at Mitsui & Co. Since 2015 she has invested in 3 unicorns ($1B+ company) including Transfer Wise & Marshmallow. Yvonne is now a partner at Europe’s #1 Tech investment firm.


Yianni Charalambous (Yiannimize)

Yianni launched the car wrapping business in 2006. This was his 5th attempt at starting a business. He went from failure to failure but finally found success with car wrapping, products and content marketing. His business provides car wrapping to celebrity clients like Aubameyang, D Block Europe and many more. His services range from £2k – 40k plus and regularly sees over 20+ clients a month.


Claire Henderson & Mike Branney

Claire and Mike were formerly a couple who together built the brand Oh Polly into a £50 million brand after selling clothes for charity. They began selling items on eBay to raise money for kids in Cambodia. In 2015 they launched their own clothing brand, Oh Polly. With marketing, paid influencers and ads Oh Polly now generates £44M+ a year all while still 100% independent.

claire ohpolly

Krept & Sasha Ellese

Krept is a famous rapper and always had big dreams. As a multiple business owner, one of his new dreams was to create a skin care line for his lovely daughter. Krept, his former partner Sasha gave birth to beautiful Nala and were inspired to create a 99% natural baby skin care line. With Krepts investment, both Krept & Sashas intellect and the ability to identify a problem they created Nala Skincare line which is in over 1,000+ Boots stores and valued at over £17 Million.

krept and sasha

Ben & Joe Gallagher

Ben and Joe Gallagher launched Lux Collective in 2018 in the UK. The brothers have already generated millions from buying and re-selling luxury items. They started the business with £1000 and have used social media marketing to grow their revenue to £4.5M in 2022. They have done a fantastic job to scale their company and have amassed 1.2M+ followers on social media also.

ben and joe

Sidemen YouTube Group

The Sidemen Youtube channel is a group of 7 friends who built a £40M+ youtube empire creating online content. The 7 friends, KSI, Miniminter, Vikstar, Behzinga, TBJZL, Zerkaa created this group in 2013. They have consistently uploaded content which has now managed to create over 5 Million+ views and 25M+ subscribers on their channel. The videos alone generate millions of revenue from ads, the group also sell merchandise, has an alcohol and food brand and KSI also makes money through Prime (a drink brand) and through boxing.


DMO Deejay

As an Entrepreneur, YouTuber and DJ, DMO has accumulated over 560K+ subscribers all from filming content on cars and motorbikes. He makes a large amount of revenue from multiple investments, ad revenue, merchandise, partnerships, brand campaigns and more. He is also an investor and owns a nightclub in Crete, Greece. Full detail of his income is not available online, and it is tricky to work out his net worth, but basing things based on his views and digital marketing data available, it is clear he has hit that million pound status.

dmo deejay

Abtin Abbasi

If you take a stroll through Hatton Garden in London, one store stands out amongst the crowd. That is, the one and only, Ajewellers. Abtin Abbassi, the Founder behind Ajewellers started his career in the jewelry business at 19 years old. He started by buying and selling watches. His first watch he sold, made a profit of £800. He went on to launch A Jewellers in 2018 and has built a 200K following on instagram to market his products. 10 years after opening a small office, he opened his first physical store in Hatton Garden. A JEwellers now turns over £25 million a year and is valued at £50M and is 100% independently owned.

abtin ajewellers


Becoming a millionaire is not a quick or easy process. It requires hard work, patience, and persistence. From the examples above, the majority of millionaires have invested years and have persisted and stayed consistent in their chosen field. You will realize, none of them joined a get rich quick scheme either. Take it from me, avoid those at all costs.

Don’t give up if you encounter setbacks or obstacles along the way. Remember that becoming a millionaire is not the only path to financial success or happiness. It’s important to define your own goals and priorities and pursue a path that aligns with your values and passions.


How to Become a Millionaire in 10 Easy Steps




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