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  • Writer's pictureKris Krohn

How to Invest $10,000 and Become a Millionaire

Updated: Dec 21, 2023

So you've got yourself $10k? awesome job! It must have taken a lot of time and effort to save that. Now, what are you going to do with it?

If I gave you $10,000, which would you get? Use it as a down payment towards this awesome freaked out truck or would you put it towards investments? To make a million bucks choice is yours. I'm gonna show you what I would do. 1 1, 1

Shot future. Let's go. I'm turning in dreams into reality. Yeah, it's one, one shot, Not future. Let's go. So come check it out. This is what 10,000 actual dollars looks like in US currency and this is what a million dollars looks like and today's video is really how do you take this and turn it into that. So first of all, if you're watching this video and you have or are close to having saved up $10,000, I want you to understand something you've already achieved, something that one third of Americans have not. 

You have money in the bank and aren't exactly living check to check anymore. And now you're wondering, well man, if I'm like most people, I'm probably just gonna like spend it on some cool lifestyle upgrades. But you're also thinking, you know what? Maybe I should do some research and figure out what a multimillionaire would do, which is why I'm making this video for you today. 'cause I wanna show you how to take $10,000 and become a millionaire because literally I started with less than $5,000, half of this amount of money and in four and a half years I turned it into $1.6 million. Today I'm gonna give you a crash course and how to take 10 grand and bust that out into a million dollars fast.

I'm fast, I'm so fast. So you wanna know what should you do with your $10,000, right? Because if you're listening to financial planners and conventional society, they've got all sorts of ideas. Oh man, you should be popping that in an I R A A 4 0 1 K, you should put it in the stock market. And you know all of those investments produce single digit ROIs. And guess what? 

That is not what the wealthy did to become wealthy. They're doing something different. When you ask this question, what should I do with $10,000? A lot of people would say, man, go get yourself a nice ride or take that money and go do some travel. Upgrade your house into something a whole lot nicer. And I'm here to share with you that if you're smart in the beginning and you choose to invest, you can make that money go so much further than just throwing it away on consumables.

Check this out, we're talking today about investing because this is what the wealthy do. And Investopedia defines investment as an asset or item acquired with the goal of generating income or appreciation. In other words, you are only allowed to put this 10 grand on something that grows in value and pays you back. And I got news for you stashing it in your bank account. 

It doesn't do that. And also if you put it just in the stock market, you could get appreciation, but guess what? You're not gonna get cash flow. You're not gonna maximize tax write-offs Today I wanna share with you what the wealthy are doing, which is by far different than what your financial planner would ever suggest. Let's be smart with that. 10 K. So here's the rule. If you wanna be rich, you gotta do what the rich do. And the rich people are buying assets.

They pay for something once and then they get paid back over and over and over again. It could be something as small as a vending machine that you pick up for a thousand dollars and then over time it's making you money. Could be something more aggressive like buying a property, not to upgrade your lifestyle, but to rent out and actually make money. You could own an office building, you could buy businesses. And in general, I'm gonna tell you the wealthy, they buy businesses, they buy real estate. 

That's how they make their money grow for them. But there are other considerations as well. Check it out. I'm about to launch into the five things you should consider doing. If you wanna take something as small as $10,000 and figure out how to grow it into a million bucks, and the first one might surprise you a little bit.

It's not the sexiest thing to talk about, but it's essentially that we start with what is it? It's paying off expensive debt. Notice I didn't say paying off debt because you have to understand some debts are good and some debts are bad. If I use debt to buy an asset that makes me money, I love that debt. 

But if I have consumer debt, I buy a boat, a car, credit card stuff and it costs me money, that's a bad debt. So you have to first ask, is my debt good or is my debt bad? And then furthermore, I'm not gonna show you when you should pay off debt and when you should not pay off debt. Check it out. Alright, I've got $10,000 to invest and I have a choice. Option A is Chris, I have some student debt and my student loans are exactly $10,000 and it's only costing me 3%.

I get this question all the time, Chris, should I focus first in my life on paying off my student loans? Well, there's an option B. Turns out there's this deal that I can do in this option. If I take my $10,000 and do the deal, I have a chance to earn a 20% r o i on my money. Now, should I take my $10,000 and pay off the debt to avoid a 3% interest charge? Or should I do the deal and earn 20%? Well, you have to understand the difference. Right Now there is an opportunity cost difference of 17%.

In other words, I would do the deal, I'll make that deal. I would make the 20% and then I'd use my winnings to pay off my student loans down the road because the interest is so low that it's really not costing me a whole lot of money in that situation. I am not paying off my student loan debt.

On the other hand, let's just say that it's not a student loan situation. Let's assume that instead I have credit card debt and my credit card debt is $10,000, but it's not earning interest at 3%. They're charging me 21% of my money. And here's the question, should I take my 10 grand and should I, I pay off the debt that's charging me 21% interest?

Or should I do the deal where I can make 20% my friend? You should not do the deal because the debt is more expensive. You're being charged 21% and the deal can only make you 20%.

You are going to literally lose 1% if you do this deal in that situation, your credit card debt is too expensive. You should take your 10 grand. You should wipe it out, pay it off. Bottom line. If you have a loan out on a car, but the interest is really cheap, maybe you have it out on a credit card, but it's really cheap, don't view those as bad evil rot and do everything in your power to pay them off. 

First the question is, is it a manageable interest rate? Because here's one thing you don't wanna lose. The wealthy never lose time. That's their consideration. They're not obsessed with the debt. They're asking me, where will this do the best in that situation? Pay off the credit card.

It's way too high in this situation. Invest in the business. It will be able to pay off that credit card 10 times over.

Option number two, if you've got 10 grand, you may also want to consider this buying a primary residence. I'm talking about literally buying a house. I'm not talking about upgrading your lifestyle. I'm talking about the fact that most banks will literally allow you to get into a home with only a 3% down payment. 

That means that you could buy a $200,000 house, even a $300,000 house and 3% on 300,000 is less than $10,000. Now, the purpose of getting a house is because since the sixties real estate has gone up on average 4.5 plus percent, that means that your investment is gonna get a killer. R o I. Let me show you the math. Let's say for example that you found a house that you wanna buy for $250,000. And guess what? The bank says this house only requires a 3% down payment. Now 3% on $250,000 is only $7,500 right here on my calculator.

If I type in $250,000 and I times it by 0.03, that represents 3%, it shows me that it is in fact $7,500. Now this is less than $10,000. And you're maybe wondering, Chris, why would you recommend that I do that? And how on earth could that help me actually become a millionaire? Let's say that in the market that you're in, this house is appreciating going up in value 5% a year. 

So what is 5% of $250,000? Well, $250,000, again, in my calculator times 0.05 tells me that each year my investment is gonna go up $12,500 on average, let's say that you hold this home for five years. So I'm gonna get $12,500 of growth every year for five years. I'm gonna multiply that by five for five years. Now guess what? That home over five years on average has gone up $62,500. Now look at what happened here.

You invested $7,500 and five years later grew that into $62,500. That's literally almost 10 times what you started with that R O I. It's massive. Which is why most millionaires, their greatest net worth usually starts in the first home that they buy. This game of money is starting to get kind of sexy. 

I'm bringing sexy back, but believe it or not, I've got three more options and each one of them gets better. Check this one out. Option number three, buy a small business. If you can find a successful small business and purchase it as the owner, you can capitalize on profit without putting in any of the initial work. Here's what you wanna do.

You want to Google local business brokers to find a list of businesses for sale. Did you know that 86% of all businesses that could be sold will never sell because the business owners never know.

In fact, selling a business can often be a challenging market. This is a huge advantage to you and I. It means that there's someone out there that has spent decades building perhaps this business. They've mastered it, they've figured it out, and it's making money, but they're old or they wanna sell or they wanna retire, they wanna move on with their life and they're basically just gonna let that business go or maybe try and sell it. 

Did you know that a lot of these businesses you could snatch up a deal where all you have to do is put $10,000 down and then maybe for the next year or two, pay them a royalty, give them some of the profits. That's called seller financing. 'cause you don't have to come up with all of the money out the gate, but you can step into someone's life work of having made a great business.

You essentially take it over for $10,000 or less and now that business is yours. Alright, check it out. I just pulled up my laptop and I'm gonna type into the search business broker and I look at immediately what pops up and check it out. Right here in my area, I've got, let's look at this one. Alpine Business Brokers. I pull this up and I click on their website. Let's see what we find. Utah Business Sales Specialists, and I've got listings right here and check it out. I have a list of businesses right now. 

The very first one that comes up is an online business. It's an online Swarovski crystal reseller. They're asking $40,000 by the way, that business is, is making $9,500. And then if I keep on going down, I scroll through this list and check it out. I see all of these businesses for sale.

Now what I'm gonna do is I'm actually gonna contact the broker and I'm basically gonna say, here's where I'm at. I'm looking for a business that has track record that has proven to make money and I've got down payment.

And what you're gonna do is get to know that broker. And at the end of the day, you're gonna let 'em know, listen, I wanna preserve my capital. I'm looking for someone who's maybe a little bit more desperate in the marketplace. I'm looking for a business where I can put $10,000 down and I wanna seller finance the rest. Those deals happen all day long. You broker a deal like that.

And guess what? You just found yourself acquiring someone's life, work of business that they've put into it. You get to take over and the money's yours. Did you know that right now we're facing the largest wealth transfer in history.

Baby boomers with their businesses, most of them aren't gonna sell them even though they could. This is an opportunity for you to literally snatch up gold. Mines like, check this out, this tiny little business right here, they're asking 60 grand for it. 192,000 in sales. It's cash flowing profits claiming $67,000. 

They literally want less money than the profits it's gonna make this next year. And you put 10% down on that, that's $6,000. 10 grand in this world can go a real long way if you're smart and if you're making the right move. Now, as cool as that is, I'm a huge fan of number four. This one has made me more money than most things I've ever invested in. 

So if you got $10,000, check this one out. It's called Joining a Mastermind. What is the mastermind? Dude? This is a club where the elite, this is where the successful, this is where business owners, this is where top investors hang out.

And what they wanna do is they wanna network with like-minded people because they understand that who you know is way more important than what you know. If I had $10,000, one of your options you absolutely should consider is finding a mastermind that costs $10,000 in your local area. 

Attend every chapter meeting, go to every one of their events, meet as many people as possible because remember, you can make more money meeting one person than lifetimes of working for money. Now I wanna give you one of my secrets. Every time I join a mastermind, I make the intention that in the next 12 months, I'm gonna make all of my money back times 10. 

Now, I've had times where I've gone and I've only made five times my money back. I had a couple of experiences where all I did was double my money. But the point is, is that it's an investment and I expect to get a return out of it.

And ultimately you're there to meet people, get to know them, find out how to serve them, create value for them, almost treat it like a, like an internship. And then in turn, opportunities are gonna open up for you. Doors are gonna open up for you. I'd paid a few hundred thousand dollars, for example, to be a part of Tony Robbins mastermind. A couple years ago I was hanging out at one of his houses. 

I was in Florida and I was sitting on the grass with a woman that had just sold her company for over a billion dollars the year before. And I knew that all I really wanted to do was find a way to serve this amazing human being that I knew was gonna create value with whoever she did business with. Sat down, found a way to serve, created a deep impact, and later I started my foundation and she was my first major donor.

We've gone on to do some really incredible things in the world, but also I've just learned a lot from being in her airspace. You've gotta learn to value investments into yourself and people more than even physical, tangible investments themselves. And grand finale for today, if you have or on your way to saving up $10,000 and you're wondering, Chris, how would a millionaire invest that to become a millionaire all over again? Number five is this, hire a business startup coach. 

Listen, take a look at the world's most successful individuals. They own businesses. I'm not talking just like billion dollar tech ideas and things that become like globally household names. I'm just even talking about business owners in general. You see 2% of all business owners make a million dollars or more.

And while 2% might seem like a really small number, the reality is it's a lot bigger than trying to earn a million dollars working in the workspace. And yet, if you're gonna go into business, you should never try to do that on your own because you know what the, the school of hard knocks is crazy expensive. It demands all sorts of money and time licking your wounds from poor mistakes. If you're gonna go into business, don't be a lone wolf. Find a business startup coach. 

Now, why a business startup coach? You have to understand the world is changing so rapidly right now that every day there are new opportunities and new businesses that emerge. You gotta get literally on the bandwagon where you can discover what's hot and hip right now. And there are coaches out there, business coaches, they follow that trend. They start businesses. 

That's something I do. I have a collection right now of dozens of businesses that are hot right now that didn't exist years ago, and my clients are killing at making tons of money.

But more important, it's not just finding the right idea. You've also gotta find a coach. You gotta find someone that can hold you accountable, walk you through it, break it down step by step, and keep you from making mistakes. 

Now, it might be surprising to you that for $10,000 you could literally get a business that's proven and a coach. Guess what? In the link below, that's exactly what you're gonna find in that link. If you click it, you're gonna connect with one of my team members and have a conversation. 

What are these hot businesses that Chris is talking about? How come they're making so much money for their clients? What makes some hip new and relevant so that I can work from home, have the lifestyle I want? There's a little learning curve. You're gonna have to work hard a little bit in the beginning, but for the most part, I ask for just an extra hour or two a day.

'cause most of my clients got jobs and they wanna quit that job for being self-employed, but they need track record first. So if you wanna figure out how to put $10,000 out there and literally get a 500% return on it, which means double, triple, quadruple five, xing your money, and then going beyond, I believe you should find out what's trending today, what's hot and working, and a coach to take you by the hand and guide you down that road. 

Click the link below, I'll show you exactly how to do that. Listen, if you like today's video and you're not a subscriber, you're crazy. Click that subscribe button and let's get on the same page. I drop these videos several times a week and they're designed to awaken your financial genius. So do that right now. And if you want, give it a thumbs up or share this video with someone that you think would appreciate it.

Beyond that, if you're wondering what it would be like to have a business coach help you literally launch a business, that's what I help people know how to do. And if you click this video right here, my buddy was at risk for literally losing his six figure job. And so on the side with two hours a day, I helped him replace his entire income in 30 days. If you wanna see what his journey was like, what he experienced, how much he made, and how he did it, you wanna see one of these hot, new trendy businesses? Check this out.

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