In theory, anyone can become a millionaire regardless of occupation. All you have to do is save your money diligently, and invest it consistently and intelligently. But there are certain careers and options that can help you become a millionaire. These careers represent a fast track to attain millionaire status. But many of them involve working in fields which put in a place where they can take advantage of opportunities that lead to significant investment payoffs.
Salaries of lawyers depend a lot on their geographic location. For example, lawyers working in large cities will earn considerably more than lawyers working in smaller cities. However, lawyers do take home a sizeable annual income. Their area of specialization also makes an impact on their income. Corporate attorneys make substantially more than the median for the group as a whole.
Income earned by engineers also largely depends on the area of specialization. Chemical, mechanical, petroleum, aerospace, etc. are different areas, and engineers in this field earn their fair share of income. Their average income can be a track for them to attain millionaire status. They also enjoy a high level of career stability.
Physicians and surgeons earn close to $2,00,000 in a year. Many specialists can earn considerably more. That kind of income can help you attain millionaire status every five years. Regular savings and investing will produce a million-dollar bankroll in short order. Doctors are also often in positions to sell their practices for a large windfall that alone can fetch more than a million dollars.
4. Investment Banker:
Investment banking is a field that commonly involves out-sized bonuses. Multi-million dollar mergers and acquisitions have an opportunity to earn substantial money, and this is investment bankers earn their income. Their experience in economic sectors where mergers and acquisitions tend to be richer and more frequent helps them become millionaires quickly. Here too, geography and specialization come to play as it has a significant impact on the income earned.
5. Real estate investments:
It is often said that more millionaires are created in real estate than anywhere else. This, of course, refers to those who invest in real estate and not so much for those to sell it for a living. However, real estate investments keep you in the front line position to utilize the opportunity for investing in income-rich properties. This is the primary road to riches for real estate investors. Real estate investors earn income similar to physicians and surgeons and sometimes ahead of lawyers and engineers. That income, plus a few smart real estate deals, help pave the way to millionaire status in no time compared to other fields.
The ticket to earning a millionaire status does not necessarily lie in these careers. There are many people who write their own ticket and become wealthy through business ownership, being an outstanding performer in their current job, or through years of hard work, saving, and investing. In short, there is no single path to wealth. However, if you have the finances sorted and make a few smart decisions like consulting as at Perfect RealEstate Investments, you will be paving your way to a millionaire status quickly!