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A million pounds (seized from criminals) looks like this

How to Make a Million Pounds in 10 Years:
MBF gives you the low down on becoming a millionaire in just a decade

If you were on average UK salary of £26,000 a year, you’d have to work for hundreds of years to earn a million (after taxes and living costs).

If you follow one of the thousands of money making schemes around, you might make a lot. But it wouldn’t be a million in just 3650 days. You might lose a lot.

But if you combine elements of several schemes, you might do very nicely. You could of course try some scam or con (the modern equivalent of what used to be called ‘robbing a bank’) – but that is not advised.

So, here in no particular order are some ideas.

Take Your Pick

Write a book that sells, be it fiction, kiss-and-tell, a new angle on a celebrity, a thriller, a murder, a black comedy. Self publish to maximise your gains. Amazon is big but there are many self-publishers around now.

Sell your idea for the book either before or after it is written to a film director like Spielberg or a production company. Hollywood  is a hard and lonely place to crack, but everybody there is always looking for the next big movie idea.

Invent a winning game format and sell it to a TV company – they are always looking for the next Pointless or Who Wants to Be a Millionaire? So, go for it.

Make a video of something stupid, lovable with animals and/or children, post it on YouTube and watch the ad royalties roll in. Simple as that. It’s just that you have to get it started going viral by hard work on social media.

Invest in land.  Sounds ideal, as does buy-to-rent with all the tax benefits available. However, governments can alter the rules as they do regularly and frequently so you may not make money. Land can be blighted; tenants can destroy property and bunk off.

Invest in stocks and shares but remember investments can go down as well as up and when there are crises (global, Greek, Euro, terrorism) values plummet. And only over the long term do stocks outperform cash investments, but you have got ten years….

Invest in ISAs. On present limits you can set aside £15240 a year in a tax efficient savings wrapper. Even at a modest 1.5% compound interest that would be a useful £175,000. However, this one supposes that you have that much money to put away every year and never take any out.

Play the one of several lotteries now around and/or invest in Premium Bonds. The lottery requires you to outlay a few quid every week in the hope of winning big money but the odds are lousy (14 million: 1). Premium Bonds odds are a bit better (26,000:1 or try the calculator) but at least you can get you money back!

Go for one of the many 100% risk free online businesses advertised. Risk free it says, anyway. Somebody makes money out of you signing up for it. One reckons you can make around £2500 a day. So for 5 days a week, 50 weeks a year for ten years, you’d actually pull in £6.25m before taxes!

A pound saved is a pound earned. A simple way is to spend less. In football they always say that it’s as important to stop the opposition from scoring as it is to score yourselves. So, join You wont make a million, but every little helps.

Some other blogs about money making:

101 Ideas to Make a Sideline Business, 7 July 2015

How to Save Money on Social Media, 6 May 2015

Top Ten Ways to Make Productive Use of Precious Time, 16 February 2015

Is Social Media Marketing Your Key to Some Extra Income? 21 October 2014

Image: West Midlands Police
A million pounds (seized from criminals) looks like this