How to Make and Keep $1 Million in Two Years

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Ryan Daniel Moran here from Freedom, Fast Lane. And today we're gonna do something a little bit weird. I do a little bit. Something sort of controversial. We're gonna be talking about $1 million. We're talking about how to make it and what to do with it once you get it. Now, this is a thing for me to talk about because I used to have this mental block around the idea of $1 million. There's this idea in my mind that if I made a million dollars, that I would be secure forever, that I would be happy forever. And that was all that it took in order to feel secure, to feel happy and safe. And guess what? That's not how it works. There's just. There's. The brain automatically adjusts once it has a certain amount security and it looks for more. They've done studies on this and found that the brain never has a level in which it says, okay, I can. Peace out now. But for some reason, the million dollar mark is an interesting glass ceiling. It was for me and it is for a lot of other people as well. A million dollars is just a nice level for us to talk about. And now that I have built million dollar businesses, I feel like I can talk about this topic. And I spend a lot of time looking at what would I do if I had a million dollars? How would I invest it so that I would keep it and be safe. Now, I hesitate to talk about this topic because I realize that it never really happens how we think it's going to happen. But I decided to make this episode because I want you to see how simple it is. How simple getting a million dollars and investing it to be secure is. Now, I didn't say easy because if it was easy, everybody would do it. The easy thing is to wait for the government to tell you how much you work and make $10 an hour according to minimum wage. That's the easy thing to do. The smart thing to do is not the easy thing to do. But I want you to see that making, investing, and keeping a million dollars is very simple. So I'm going to talk about how to earn it, and then we're going to talk about how to invest it and keep it so that you are, quote, set for life. All of this is wrapped in a nice pretty little asterisk that says asterisks. It never really happens this way. It never really happens in this straightforward way that everybody believes or dreams it up to be. It just doesn't happen that way. But this is how it can happen. This is how it's happened many times and this is how simple it can be. Alright, so I'm gonna give you two ways that you can make a million dollars. And I'll even dare to say make a million dollars by this time, in two years, maybe even one year, but definitely in two to three years, you, you could have a million dollars cash in your bank account by doing one of these two things. Number one, develop an offer and get the offer out there. Alright, so I come from the information marketing world where you put together an info product and you develop a sales letter around that and you sell something through an upsell funnel and you drive traffic to, to that offer. Let me break this down a little bit further. Now. This could be an information product, meaning you're showing someone how to do something, how to lose weight. There's always money in weight loss. By the way, if you have a great weight loss story, we should talk because we can make a million dollars together. Weight loss will sell forever. Weight loss. How to get the person of your dreams, how to invest, how to.

Play the stock market, how to add muscle, whatever it is. These are teaching people how to do things. Products. And they come usually in the form of ebooks or videos or audio guides. If I was smarter than I currently am, I would probably be charging for the information that I give away on my podcast for free and putting them together in an information product. Or I could just put them on itunes and grow my audience, which is what I decided to do. But that's beside the point. We're developing an information product where we're teaching someone how to do something and we are putting that available for download so that it costs us exactly $0 to consume. So if somebody buys from us, they get sent to a webpage where they download something. It costs us zero, but. But they paid us money to get it. Now I'm going to break this down even further in a second. But it doesn't have to be an information product. It could also be a physical product. I've seen lots of people do supplements. Supplements because they're high profitably. They're high profitably, which is a way of saying that they have high profit margins or any other physical product that you can sell through this manner. But I come from the information marketing background. I know many, many information product millionaires. And so we're going to keep the conversation around information products. They're easy to develop, you can put them up quickly and you can sell them rather easily. Now, in order to develop this skill, in order to have an information Product that makes and sells a million dollars. You, you have to get good at a couple of things. The first thing that you need to get good at is copywriting and or conversions. Meaning how do you write a sales message so that you turn people who discover your product into customers of your product? Obviously it is not enough to develop a product about weight loss or whatever. It's about put it up and people just magically come buy it. This is not an if you build it, they will come scenario. In order to sell product, you have to have a sales process for that product. And that comes down to learning how to convert people into customers. Now you can just google the 12 point sales letter process and you'll find an article out there that has been regurgitated hundreds of times about how to write a good sales letter. So you can learn this skill for free if you just look for the 12 point sales letter and, or if you just look at what other sales letters look like. We call them long form sales letters. They're lengthy conversion pieces that people read and then they decide to buy something that is your sales letter into your offer. So the first thing you need to know how to do is how to convert eyeballs into customers by writing good copy. And you can learn that for free. You can just google the 12 point sales letter process, look at some examples and you can see exactly what it looks like. The second thing you need to have is a great freaking product. I should actually have put this first. The first thing you need really is a great freaking product. So if you have nothing of value to sell, it's going to be a hard, it's gonna be a hard road of making a million dollars. But if you have something good to sell that really makes an impact for people and it doesn't need to be your own stuff. It can be your knowledge or it can be someone else's knowledge. If you know someone who has a great weight loss story, you can have them develop the product, you do the rest and you give them a percentage of your, your profits, usually 15 to 20%. So it doesn't have to be your content, it can be someone else's content as long as you are good at the conversion piece. Turning eyeballs into customers. So again, we have an information product. You are converting eyeballs into customers and it's a really, really great product. So when they become a customer, they absolutely love it. And the next thing that you need is you need relationships with people who have audiences. Now I know I'm going really fast here.

So let me break this down a little bit further. You have heard me talk about channels many times on the Freedom Fast Lane podcast, and that is because I believe that the fastest way to get sales and to get profitable in a business is to take your products and, and to put them on big sales channels, meaning identifying where people hang out and putting your product up in front of those buyers. So I sell physical products in my yoga business. So where do people buy yoga products? They buy them on Amazon and they buy them in retail stores. So we got really good at Amazon and then we're gonna roll out retail. Those are our channels for my yoga business. Zen ActiveSports. Well, in the information product world, where do people hang out? Where do people buy things from when they, when they're buying information products? If they want a product about how to lose weight, where are they buying that? Well, they're buying it from the recommendations of other people. Now there's a great website called clickbank.com it's been around for a decade and it is a hub for information products. It's a hub where people put their information products available for sale and other people share it with their audience. So you don't even need to have an audience. You need to have a relationship with people who have audiences. And if you can connect with people who have relationships who have audiences in a certain area and you get them to tell their audience about your product and they get a percentage of the sale, which ClickBank automates, then you make a bunch of money without having to have the audience. Plus you get to keep the audience because they become customers of your stuff. So I know many, many, many information product millionaires, people who have. You know, My buddy Mike Geary has a weight loss product and he made, he wrote a book, an ebook, and sat on his computer for two years, Dos Anos for our Spanish friends. And it sat on his hard drive and he did nothing with it until he learned how to convert. He learned how to convert customers, convert visitors into customers, and he put the product on clickbank.com made some relationships with people and he now has a multi, multi, multi million dollar business per year. He has one of the most successful information product businesses around because he got good at converting people and he made some relationships. So if you have a good product, combine that with good conversions, combine that with good relationships, all of a sudden you can become a millionaire. Now where do you connect with these relationships? You go to conferences, you get active on people's blogs, you blog yourself. You do things like putting information out there that attract people to you, you build relationships with people who have audiences. With a good product that has good conversions, you become a millionaire. My buddy Abel James has the number one podcast in health and fitness. And two years ago nothing existed. He didn't have his business, but he put together a podcast with good content product that converted really well. And because of his, the quality of his content, he made all these incredible relationships with people who had audiences and all of a sudden he has a million dollar plus business in less than two years. Because he has grown an audience, he has grown relationships with people and he has a good product with good conversions. That's what it takes to be a millionaire with information products. That is option number one. That is how if you start doing this today, in two years, if you do this consistently, you can be a millionaire. The second way that you can make a million dollars is to build a company and sell it. Now I know that sounds really advanced for some people, but let me talk to you about how simple this is. Again, it comes back to the channel. Are you putting your product in a profitable channel? Where do your buyers hang out? If we maximize a channel, we can have a business worth $1 million fairly quickly. You see, if you have a product in retail, if you have a product doing well on Amazon, if you have a product doing well on clickbank, if you have a product doing well anywhere where there's a profitable channel, these numbers become really, really basic. These are just example numbers. But if you have a product that sells for $25, what you need. Let me back up a bit actually. Some businesses, some people will say that businesses will sell on average for about three times their yearly revenue. Sometimes more, sometimes less, but on average about three years annual revenue. So in order to make a million dollars selling a business, your business needs to take in about $300,000 a year in sales. If we break this down further, that is 33 sales per day at $25. 33 sales per day at $25. I have many products on Amazon.com that sell 33 units per day. If you have more than that going out to retail stores.

Or if you have other channels that help you sell 33 units a day, 33 units, that's it. At 25 bucks equals $300,000 per year in sales times three is a million dollar business, give or take. Because I rounded 300,000, that is essentially a million dollar business. Now what do you need in order to make this happen? You need to have again a really good product, A good frickin product. You need to have a Channel where you can put that product. You have to have a marketing message that makes it attractive for people to buy, and they obviously have to like the product. So the processes are almost exactly the same. Have a great product that sells because of a good marketing message. And you need to have a channel in which you are taking regular sales. And then there are all kinds of business brokers out there that can sell business. As long as you are in a growing market with growing sales, you can sell a business.

Now, I just told you how to make a million dollars in about 12 minutes. And I realize that I'm oversimplifying everything, but the, the reality is, is that this is very simple. It's very simple. It just comes down to execution.

Do you have these things in place? If you have these things in place, you can earn a million dollars. I know many, many people who have done it. I know very few people who have made a million dollars and kept it. Very few people who have made a million dollars and still have it. Why? Because they blow it. Because it was all ego. They wanted to have a cool car and a cool house and they're in debt. Very few people who have made the money and have learned how to keep it. You see, this is assuming that you make a million dollars. You didn't spend any of it. Now if you're doing this, these are all, these are both things that you could do in your spare time that done over a couple of years, could make a million dollars. But what most people do is they start to make. They make $100,000 and they spend it on stuff they think is gonna make them look cool. And they make half a million dollars and they blow it because they think it's gonna last forever. And then they just self destruct. So what I want to tell you how to do next is how to keep $1 million. I have spent many, many hours researching and planning out investment strategies. Now I say this a little bit with hesitation too, because it's easy to say, with a million dollars, I would go do this and be set for life. Because once you have it, your. The security part of your brain kicks in and it says, I don't want to lose this, so I want to hold on to it. So it's. I actually have very wealthy friends who ask me, hey, you know, where would you put a million dollars? And I'll tell them, but that security part of the brain doesn't want to execute that because it. You have the illusion that it would be safer if we just held on to the money. In the bank account or if we bought toys, because then we get to enjoy them. But if you came to me and said, how do I invest a million dollars? How do I keep a million dollars so that I have it for a long time and it pays me forever, this is what I would tell you to do so that you could grow your wealth. I would take 50% of your $1 million, half a million dollars, and put it into residential real estate. Could be multifamily houses, could be single family homes, could be one apartment building, I don't care. But put it into some form of residential real estate. The reason for this is twofold. One, the cash flow is high. If we're looking at about a 10% cap rate, meaning a 10% profit on how much it's worth, that means that if you put in half a million dollars into real estate, you're getting back about $50,000 a year in income. And I am of the opinion that anyone can live a modest Lifestyle with about $50,000 a year, a modest lifestyle where they can eat and pay rent for most of their life. Unless inflation goes way up, which won't matter because then your rents would go way up. But it allows you to live a middle class lifestyle at $50,000 a year. Now, do I want to make $50,000 a year? No, of course not. I want to make 500,000, 5 million, $50 million a year. But I'm saying that if the stuff hit the fan and you only had your $500,000 invested in real estate, the rest was gone. You could still make $50,000 and eat and pay rent until the next thing came along. So I would take your first half a million dollars and put it into some form, 100% of that, put that into residential real estate. I don't care if it's multifamily, I don't care if it's single family houses. I don't care if it, I don't care what it is, as long as it's paying you about 10% in profits.

And even better is throughout the years, the value of that real estate will go up, your rents will go up, and your overall wealth will go up. So I'd put half of that into residential real estate. The other benefit on this is that you get to keep most of that money because of the tax benefits that come along with having residential real estate. If you had half a million dollars in residential real estate and it was giving you $50,000 in cash per year, you get to keep most of that $50,000. So that is almost tax free money, not, not 100%, although sometimes, depending on how it's structured, you can keep all of it. The, the point here is you're keeping most of it, and that is money that you can live on, you can reinvest, do whatever you want with. Then with the other half, I'd break that into a couple of parts. I would put 5%, so $50,000 into savings. Never touch it. That's your emergency fund. That means if something goes wrong, you have $50,000 to do whatever needs to be done. Just hold on to it, hang on to it, it's just there. Then I would take 20% and put it into growth stocks, meaning these are, these are stocks, these are companies that you believe in. Invest into these every single month. You can actually go to freedomfastlane.com and look at my income reports and you can see what stocks I'm actually investing in. The growth stocks that I personally am invested in, some of them right now are Amazon, Visa, JBLU, which is JetBlue, and some others. Whole Foods Market is one of them. These are companies that you want to be invested in because you think that they're growing. So these are companies that you're gonna, you're not gonna make money from in the form of dividends. You are putting money into them to invest in. Now, 20% is aggressive, but this is what I would do again with my million dollars, put 20% into those growth stocks. So you have $200,000 into growth stocks that are gonna grow for years, years to come. That's basically your retirement at that point. If you put $200,000 into stocks now, depending on how old you are, that can grow into something really special throughout the years. And then with the remaining 25%, I would be putting that into real estate investment trusts or, and, or dividend paying stock that have been increasing year over year over year.

The real estate investment trusts have a history of paying 8 to 15% dividends. So that is, if you say 10%, that's an additional $25,000 per year coming in the form of dividends. Or if you're looking at growth dividends, meaning they're increasing their dividend every year. And if you don't know what these are, you should go back and listen to the podcast that I do. Cash flow and Investing, we talk all about this. And these typically pay about 5%. So that is not anything substantial year one, but year five, year 10, this starts to become substantial because your dividend is growing, the stock is appreciating and your cash flow is then increasing. Now the reason that I have this breakdown is very simple. First of all we have the emergency fund in case anything crazy happens. The first half of our investment is in something that is going to spit out cash forever and increase in value over time. And then the rest of it is put into things that we don't necessarily need but will continue to grow and give us cash even more so year after year after year. So our income grows. See, what most people think is that a million dollars is going to last a long time, but what really happens is it gets used up pretty quick, but the cash flow that it can create can last forever. So 50% into real estate, 5% into savings, 20% into growth stocks, 25% into dividend paying stock or real estate investment trust to get a higher yield. But of course in order to do that you need to make the million dollars. First. There's two ways I recommend you do it. One, set an information product and gather affiliates in order to promote that product. And the second, build and sell a company, which you can do by just making a few sales per day, getting in front of a profitable channel and letting channel do the rest. Now of course all of this needs to be done after we unhook the connection between how much money you make and how often you work. How much you work. There is no connection between how much money you make and how much time you spend working. So you will never get rich trading your hours for dollars. You know, I have a ton of free reports over at the blog@freedomfastling.com if you just enter your best email address, I'll send you all kinds of awesome stuff on these topics for free. On building businesses, on investing the profits that you make. If you just head over to freedomfastlane.com and enter your best email address, I have all kinds of free information that will help you take this process to the next level. Hey, I hope you found this helpful. I'd love to to hear your thoughts on the blog and you can find the show notes@freedomfastlane.com Leave me a comment and let me know what you thought of this episode. Thanks for listening to Freedom Fastlane and I'll see you on the next episode.