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the secret to making a million!

Let’s face it. It is an unavoidable part of human nature to imagine ourselves in a million dollar apartment or managing a business that is worth millions. More often than usual, we conceptualize ourselves in luxurious settings, and most of us have dreams of owning all the things that the rich own at some point in our lives. However, between those fantasies, we fail to see the reality. It is the way that the rich have acquired the money over time and more importantly, how they got to that first million and grew from that. The first obstacle is getting to a million, which requires an immense amount of patience, resilience, and thirst to learn more, especially in Dubai, which is a place filled with evident luxuries and a serene lifestyle.
We often trail off into the wormhole of the “whys” and the “what ifs” that come in between what we want. Focusing the energy into the trailing thoughts will only generate feelings of vengefulness against the rich, and unnecessary anger, which may make you give up before you even try to take your first steps to a million. Focus and energy are critical driving forces towards a clear growth mindset. Contributing your attention to what you want and attaining good energy will create a love for learning and room for further accomplishment.
On the practical side, investment is one of the best ways to generate long term returns, particularly real estate. Real estate offers better returns than the stock market without as much volatility and has a high tangible asset value. If you’re worried about the risk of investment, then real estate crowdfunding will help you with diversification, meaning that the risk will not be concentrated in only one property.
“The million dollar choice would be choosing to financially educating yourself by taking some time aside from formal academic education”
– Andy Tanner
Crowdfunding is one of the convenient ways to create a diversified investment portfolio. It is a way in which investors can own a fraction of a property with lower capital than what is needed to invest in the entire property. With just a consistent investment of AED 20,000 over a series of years, you can have returns that are worth a million dirhams. A company such as Smart Crowd could help you initiate your long term success goals with a reduced risk factor.
Attaining a million by using a short-cut is only a myth. As easy it is to be gained, it can fly out of your pocket just as quickly. Intelligent investments can significantly turn your lifestyle into something that you have always wanted, but the factors of focus, discipline, and diligence are what you need to be well on your way to being a millionaire. Earning returns from investing in real estate occurs over some time, and can contribute to positive growth in your long term investment goals, or even help with initial the creation of your long term goals. The key to sustaining money and adding value to it is investing.
Below is an example to demonstrate the power of being consistent and patient with your investment:
  1. If the investment started with an amount as little as AED 20,000 and an individual resort to yearly investments of AED 20,000, it can result in the value of a million over 23 years assuming a steady return of 7% annually.

  2. Discipline is key here. You invested AED 20,000 every year and reinvest the returns that you have earned as well. Without discipline that money will be spent and will miss the opportunity to work for you.

  3. As a comparison, if you were disciplined enough to save that money and leave it your savings account which gives you an interest of 1% it will take you 41 Years to get to million. And if you don’t’ save or invest that money, you might never get there.

  4. The example below only assumed annual return cash return of 7% and does not assume any appreciation in the asset value. You might get to a million sooner if the asset value appreciates as well providing you both a nice annual cash return and price appreciation. This one of the things that makes Real estate very interesting. Read our blog on “The best investment of the Century”
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