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Last Updated on August 18, 2021 by Tyler Clark

How to Become a Millionaire in 5 Years or Less with this 4 Year Plan

Whether you want to become a millionaire at 18, 20, 25, 30, 40, 50 years old or more, odds are in your favor if you’re willing to dedicate a few years to do it.

I’ve seen everything online to becoming a millionaire in 5 minutes to becoming one by the time you retire.

Based on those findings, I’d say we’re somewhere in the middle and that’s about right.

This article can be seen as a basic 4 year plan to become a millionaire in under 5 years.

It also contains a key piece of the millionaire puzzle. Something I saw or was told about from the millionaires I trained as a personal trainer.

I saw them go through something I call “The 4 year Push”.

This happened over and over and it was during this time that people went from average to millionaire.

There’s lots to explain here so let’s get started.

Possible Under 5 Year Millionaire Businesses

• Blogging
• Membership websites
• Software development
• Real Estate
• Writing
• Life Coaching
• Research Companies
• Restaurants
• Franchising
• Fashion  (designer, interior decoration)
• Event planning
• Food and beverage development
• Certain Job Types
• And so many more

-If you open a new type of ice cream and waffle shop and hit big, you can easily franchise and be well on your way to making millions in a few years.

-There are new fashion trends starting all the time these days. Create a stylish water bottle and in no time, you can be selling to thousands of people online.

-Recurring income from membership sites can make you a millionaire in under five years and they can keep paying you for years to come.

Sure it’s a question of what you’re going to do to achieve all this but if you put enough of thee parameters in place, you’re going to dramatically shift the odds in your favor.

Just make sure you pick a business that has the potential to go big.

Once you start your business, if things go well in the first year or so, here’s what can happen..

Step #1: Forget All the General Saving and Frugality Tips

If you want to become a millionaire in 5 years, we’re going to fly right by all these tips.

I’m not saying you should be messy with your money. You should be really good with money but, this doesn’t mean you should be a saver or anything like that.

Think about it this way..

You need to pay for yourself to live (and possibly others) and you’re going to save millions a rock bottom interest rates as well?

Even if you save as much as you can, you still need to save a million dollars. And that’s just one million.

This is going to take a really long time and it’s not great for our 5 year millionaire timeline.

Step #2: If You’re Very Well Versed, You Could Use Debt. 

Sure college debt is bad debt but, using debt properly can be a powerful business tactic.

That being said, this isn’t something you should jump into.

I did hear of it being used effectively however and here’s a basic example.

What if you have a new product and you get an order for 10,000 units but can’t afford to pay new employees to fulfill the order?

or,

You have a machine that breaks down and you’re halfway through an order and you go to the bank to get a loan so you can finish said order and get fully paid?

Is debt still bad? Maybe not.

I understand there’s risk with any debt but it was something I saw being used in business by millionaires so that’s why I’m bringing it up.

Make sure you know what you’re doing if you ever take on any debt in business or in life.

That being said, you don’t need debt to become wealthy.

You barely need any money at all to get rich.

What you probably do need is a business. A business is a platform of some kind that brings money to you.

Here’s what that might look like.

Step #3: Start a Business, Not a Job

The odds are hugely in your favor of becoming wealthy quickly with a business vs other avenues in the working world.

It’s just really hard to do it with a job.

Don’t get me wrong, it can be done but, I’m guessing that’s not why you were searching this topic.

Another point here is that it can be a side hustle but, it needs to have the growth potential to make you big money.

I understand that it’s tough to gauge how big your side hustle can get but first and foremost, their needs to be people who have become millionaires doing it.

This would be a good starting point.

There are lots of markets that will make you a good living out there but very few niches have major money making potential.

Ultimately, you need a business that isn’t too small and can become very big. This is a common mistake people make because they want to make a little money quickly.

A little quick cash might feel good but that feeling is going to wear off as quickly as you spend the little bit of cash.

Go for the bigger payoff and you might get the major financial landslide and the longer lasting feelings that come with it.

Don’t Know what Business to Start?

That’s ok, it just needs to fit in with the list above. Try it and go from there. Odds are, you just don’t know enough yet to figure out where you’re going to get rich so get your feet wet for now.

Pick something and try the industry out and see how you like working in it.

Step #4: The 4 Year Push

I uncovered something special within the businesses of my successful clients over the years.

I realized that each of their businesses had gone through this crazy period of growth.

Some of the millionaires were such talented business people that they’d gone through this growth phase many times over with multiple businesses.

I noticed this period from the start of their business to where it took off was about 4 years.

I started coining the term in my head for this period as: “The 4 Year Push”.

This was something the millionaires were going through over and over.

Here’s How it Worked

They would have a business up and running. They’d found a need and were servicing the market.

It wasn’t a crazy re-invent the wheel business, it was just a good business.

They would start running their business and they would eventually hit this critical mass and things would start to take off.

I feel like this is an innate occurrence we see across humans in general.

We check things out, test them a bit and all of the sudden, we engage and everything skyrockets.

This explosion of customers or expansion was the acceptance of the masses of their business.

When this would happen, they had to push their business and hang in there while things were accelerating through the clouds.

They had to work longer hours, handle more intensity and keep the rocket on track as the business leveled up aggressively.

If you could hang on, you could make the big time.

Many of them did and as a result, they became millionaires.

Step#5: Push The Right Sized Business

I think the reason all this took 4 years was to do with the size of the business.

If your business has fully saturated the market in half a year or even one year, it may dictate that the business is too small to make you a millionaire.

It’s not that you failed, it’s just a case of simple metrics.

It kind of it also proves that the get rich schemes that promise overnight riches may not be very accurate. It’s just not big enough or long enough to make you rich.

On the other hand, if you go too big too soon, you can fizzle out and not be able to meet customer demand. This can leave you with orders that are too big to fulfill and customers looking elsewhere when they discover you can’t deliver among all kinds of other problems.

What’s it Like Becoming a Millionaire in 5 Years?

When I asked them about these times, they all recounted them as “Amazingly crazy and fun”.

It was something else to be in the office when all this was happening.

They said it was quite the rush.

They were happy to work the extra hours and put in the extra effort.

Sure you were working your butt off but, it was awesome.

You could see the money starting to roll in. The big payoff had become real.

What if it Takes More Than 5 Years?

Now I can’t speak to this as effectively. We do hear about companies that go along and somehow pivot years later and then things take off but, I don’t have good info for you on that.

What I can say is that the timeline among my clients was consistently close to the 4 year mark.

You could speculate that if things are going to take off, this could be a general amount of time you could use as a weathervane.

If it takes much longer, careful analysis may be required to see if the endeavor is going to pay off.

The Beauty of Becoming A Millionaire in 4 or 5 Years

I think the cool thing about discovering this 4 year push was that it showed me that becoming a millionaire doesn’t take forever.

There’s nothing worse than wondering how long it’s going to take and sitting around having no idea of what happens,

how it works or what it takes.

The 4 year push gave a timeline and some details as to what a good business goes through when things work out.

You can use this as a general guide when looking at potential business opportunities.

As yourself if the business is too small and would reach full size in a really short period of time. If this is the case, it might be harder to become wealthy with this business.

On the other hand,

if you can see that a business could have major growth if things go well, this may give you a better shot at making millions.

Conclusion

Be ready if your business takes off and hang in there for the big 4 Year Push. It may make you millions.

If you’re just starting out, try your best to pick a business genre with the potential to go big with if things take off.

Doing really well financially doesn’t need to take forever and if you put as many things in place as you can, you should improve your odds of realizing some big financial dreams.

In some cases, you may even find it only takes you 4 or 5 years to become a millionaire.

Best of Wealth,

Tyler.