Speaker 1This is the Road to 1 Million. I'm Ryan Daniel Moran. Hi, everyone. Welcome back to the Road to 1 Million. I'm Ryan Daniel Moran, and I want to welcome you to a new mini-series that I've prepared for you that is about building a million-dollar net worth. I set the goal and the mission for myself to help 1 million people build a million-dollar net worth over the course of my career. And up until this point, I have done that by helping people build million-dollar businesses. If you build a business that has a million-dollar yearly revenue, that is a business that could be sold for about a million dollars, therefore creating a new swath of millionaires. And we've been very, very successful at helping entrepreneurs build their first million-dollar businesses. We did that by helping them build a small brand that has four products, has 25 sales a day consistently. That's 100 sales a day. And at a $30 price point, that would be $3,000 a day or about a million dollars per year. And you can do that in about 12 months. That was the foundation of my book, 12 Months to 1 Million, which has sold somewhere around 200,000 copies. So we're well on our way to helping a million people at least know how to become millionaires. But in order to help a million people build a million-dollar portfolio or a million-dollar net worth, I've decided to build a million-dollar portfolio. And I've decided to build a million-dollar portfolio. And I've decided that I need to go a little bit broader. I need to help more people with the steps that put them on the road to 1 million. Because you can become a millionaire in a variety of different ways. You don't have to become an entrepreneur, although I think that's the fastest way to get there. And I wanted to create a new mini-series to help you start your path to 1 million. Because as I have been communicating a little bit differently with some people close to me, all of a sudden the light bulb has come on for them. And I believe that with the things that I'm going to teach you in this mini-series, just about anybody can be on the road to 1 million. And as soon as you're on the road to 1 million, which means you can see the destination, you know where you are going, you're going to want to get there faster. You're going to want to do more. It's going to become more exciting. A lot of the people who have been following me for some time now have heard me teach my main talking points about selling physical products, or building a million-dollar business, or building a business that you can sell. And if you haven't hit pay dirt yet, you might feel frustrated. You might have been wanting this for a very long time, and you don't feel like you're making any progress on the road to 1 million. This mini-series is made to get you back on track. And whether you start a physical products business, or you have a software as a service company, or you sell courses or consulting, this course is going to put you on the path to 1 million. Because I've got some of our clients and close followers, and let's just say it's tested very well. I recently completed a new course over at Capitalism.com, and it's free. It's called The Road to 1 Million, and it is made to go alongside this podcast and this mini-series. It's a free 30-day course that is going to help you take the steps that you need to get on the road to 1 million. That is a free course. You can go put in your best email address over at Capitalism.com, and it will be emailed to you in mini-chunks every day for 30 days. One of the big lessons that I teach over in that free course is the power of compounding results. Now, when I was a kid, I used to love to play with calculators. I know that sounds weird, but when I was raking leaves for my neighbors or shoveling snow, I used to love to play with the calculator, specifically the ones that had the roll of paper in them. And I would punch in, I shoveled this many driveways, or if I raked this many yards, at this rate, I could make this much money. It kind of makes sense that I was into that kind of stuff as a kid. And now today, I teach the math formula over and over again. Four products at 25 sales a day at a $30 price point is a million-dollar business. Kind of makes sense because I loved playing with calculators as a kid. And recently, I've been playing with compound calculators, and I have been sharing some of the things that I've just noticed with our members. And the light bulb has come on. For example, we talk about becoming a millionaire by building a million-dollar business, but what if you never started a business at all? What would you need to do in order to build a million-dollar net worth, in order to become a millionaire? Well, I was curious to simply ask the question, what is the minimum that you would have to keep? The minimum amount of money that you would need to keep on a monthly basis in order to build a net worth of a million dollars? I'm going to answer that question for you. But the thing that got me curious about this started when I was about 11 years old. My father was a teacher. My dad was a shop teacher and then later a science teacher. And he worked in Solon, Ohio, which was actually one of the upper middle class areas. We didn't live there. He just taught there. We lived in Parma, Ohio, which is not the rich part of town. But my dad didn't live there. He said, if I worked for my entire career, meaning he as a school teacher, if he worked for his entire career and he never spent a dime, he would be worth about a million dollars. He would make about a million dollars. Now, I didn't understand that at the time. I didn't know how those numbers broke down. But now as an adult, it makes sense. At the time, he made an average of $40,000 to almost 35 years. And then when you subtract taxes, his take-home earnings would be about a million dollars over the course of his career. Now, of course, he didn't do that because he had two kids and he had a family to support and he had living expenses and he drove an hour to work every day. So it's not like he was keeping all of that money. But it made me wonder, what would you need to do in order to build up a net worth of a million dollars over the course of your life? And a million dollars matters, at least to me, because if you have a million dollar net worth, if you have a million dollars liquid somewhere, then for the most part, you can control your own destiny. Even if that was invested at a modest rate of 8% to 9% and you can passively bring home $80,000 to $90,000 a year, that puts you above the medium income, at least in the United States. That's for a family, by the way. The medium income for an individual as of today is about $55,000 to $65,000. And if you factor in that one person probably works part-time, then you have your medium household income of about $85,000 a year. So if you can save a million dollars and invest it reasonably well, then you could at least have a median retirement. So I ran the numbers. What would it take for you to have a million dollar net worth? What would be the minimum for you to save? Now, the answer is probably going to surprise you because when I first did this experiment, I expected it to be thousands of dollars per month. And the answer, I'll just give it to you right away, is $541 per month. If you saved, if you kept $541 per month for 30 years, that's the course of career, you would build up a nest egg of $1 million. $541 is the minimum. Now, if you're running the numbers in your head right now, you're probably thinking there's no way those numbers shake out. Well, what I factored in was if you took that $541 per month and you invested it into broad-based index funds and it created the average return that it has created for the last 50 years. Now, we don't know that that's going to be the case. We don't know if that's actually going to happen. It could be higher. It could be lower. It's been for the last 50 years. We don't know. But if we assume that the average return of the stock market continues over the next 30 years and you were to put $541 per month into broad-based index funds, which have an average return of about 9.4%, you would become a millionaire over 30 years. The first time that I ran those numbers, it changed my brain. It helped me see the power of doing compounding things for a very long time. Because most people think that in order to become a millionaire or even a multi-millionaire, they need to take big risks or they need to have a product that really breaks out. Now, you can absolutely do that. You can absolutely have a product break out. You can have a business go very well and become a millionaire. But even if all that happened was that you made $541 a month, and the stock market continued to produce average returns over the course of your career, you're still on the road to $1 million. Now, anybody can go invest $541 a month. That's about 12 hours per month, four to five hours per week driving for Uber. That is the smallest of side hustles. That is working a couple days of overtime. Anybody with the goal of becoming a millionaire could find a way to make an extra $541 per month and invest it into broad-based index funds, which, if you're not familiar, is the simplest, most boring way to invest that has ever been invented. It was created for that purpose, for average individuals to be able to just put their money into something that they would never have to think about. You don't have to bet on Bitcoin going to a million. You don't have to bet on the stock market having a huge year. It's just a way to stay exposed to American businesses. So once again, let me just break this down very simply. If you invested $541 per month into broad-based index funds and never touched it, and it created the average return that it's created for the last 50 years, you would become a millionaire over 30 years. In the course that I just created, called The Road to 1 Million, I ask the individuals who are going through it to write out a one-sentence plan. What is your one-sentence plan for becoming a millionaire, for building a million-dollar net worth? And I say, if you don't know, then just say you're going to invest $541 per month into broad-based index funds, and you'll become a millionaire in 30 years. There's something really powerful to identifying what's going on in your life. And I say, if you don't know, then just say you're going to invest how you're going to do something that your brain knows it can do. One of the reasons why my content has been so well-received by entrepreneurs is because of the math formula, four products, 25 sales a day at a $30 price point, because your brain can actually see it doing that. You can visualize yourself having four products that average 25 sales a day. That's doable for even the most average entrepreneur. In the same way, if you don't know, then just say you're going to invest $541 per month into broad-based index funds. In the same way, if you invest consistently a small amount for a very long time, that's doable. You can do that. Of course, the question becomes, how do we get there faster? How do we make that million-dollar net worth possible way faster than 30 years? No one wants to wait 30 years to feel like they're in control of their financial future. No one wants to sock away as little as possible. No one wants to suck away as little as possible. No one wants to suck and see the portfolio move incrementally. No one wants to see it move inch by inch. We want big wins. We want the emotional satisfaction of that progress, that freedom as fast as possible. So what I've been teaching in this course, which you can get for free over at capitalism.com slash million, it's a 30-day course that'll give you step-by-step plans and action items to change your mindset and to change your habits, change the way you think, change the way you think, and give you strategies that you can do to build a million-dollar net worth. Again, that's at capitalism.com slash million. One of the things that we do is we marry these two worlds, these two ways to become a millionaire, where if you are thinking about long-term investments that are going to compound, we're thinking about a 30-year strategy of building up a million-dollar net worth. If everything else goes wrong, we still know that we're on the road to 1 million. If you do that small micro action of investing a small amount of money for a very long time and never touching it, you're still going to end up a millionaire. That's the slow way to do it. It's the simple way to do it. But we can make it happen faster by building a business. And if we build a business that just makes $1,000 a month extra, then that's twice the minimum that we need in order to become a millionaire. So now we're actually on the road to 2 million. If we have a business that gives us $5,000 a month in extra cash flow that we can invest, well, now we're on the road to 10 million. If it takes $541 a month to become a millionaire over 30 years, and then we have a business that makes $5,400, $5,400, and we invest all of that, that becomes $10 million. These are the types of numbers that I love to run on a calculator. These are the types of numbers that show you how good things can really get if we commit to a long-term plan. Now, $5,400 a month in a business is just 60-some thousand dollars a year. We can make 60-some thousand dollars a year extra in pretty much the smallest of side hustles. You can absolutely do that while working a full-time job, living on the income that you make from your job, and then investing all the money that you make from your side thing over 30 years and retiring with $10 million. I don't care who you are or what happens with inflation. $10 million is a very good nest egg. And 30 years from now, even if inflation continues to be high, $10 million is going to be enough to have a nice retirement. I'm pretty confident about that one. So what I want you to see is that if you do these two things, you create a long-term investment strategy that is fairly boring, that sets you free to approach building a business that can get you there faster and approach it with a sense of ease. Approach it with a sense of not needing to take a ton out of it. Because a very interesting thing happens when you see that the long-term plan inevitably play out in your favor. When you see that investing a small amount of money for a very long time becomes millions of dollars over a couple of decades, you realize you don't have to make it happen right now. Of course, we want it to. We want to have a million-dollar business as fast as possible. We want to be full-time in our business. We want to have a giant exit of $10 million, which some of our students do. My story is I built one of these businesses, had a more than $10 million exit. We want all of those things. But when we're in a hurry, when you're trying to make it happen as fast as possible, it's easy to get frustrated. It's easy to try to take shortcuts. It's easy to skip steps. It is easy to be discouraged when you haven't hit paydirt in six months or 12 months. But when you know that there's a long-term plan and it plays out exactly how you need it to, you're not in such a rush. And when you're not in a rush, you tend to make better decisions. When you're not in a rush, you tend to do the things that compound over the long term. So just like investing for a very long time has compounding returns, treating our business like it's something very long-term also has compounding returns. Can you imagine the ease that you would feel about your business if you didn't need it to crush this year? You needed it to compound for a very long time. What would happen to the value of your business or to the cash flow that it creates if you were treating it as something that was going to mature over 30 years? What type of compounding results could we create if we invested into our business in that way? I've noticed for myself that when I treat something like that, it grows faster than if I'm trying to make it win right now. Something that I teach in this Road to One Million course is that when you do the long-term things, you tend to pass all of people who are trying to win in the short term after about 12 to 18 months. If you commit to doing the long-term stuff, doing the boring work that doesn't get your name in the lights or doesn't look good on social media, after about 12 to 18 months, you surpass everybody else who is winning in the short term. I tell our students and my followers who read my book that for about six months of building your first business, it feels like nothing is happening. It feels like there's been no progress. It feels like there's nothing to show for it. And then some things start to happen. But for about six months, you're getting a few followers. You might be getting a few sales. You might be getting a little bit of money. You might be getting a little bit of traction or showing up for a few keywords or getting a little bit of exposure. But nothing major has happened. And it's easy to doubt yourself when you're not seeing huge results after about six months. Six months is a long time to be doing the little things. But if you continue for about a year, those results compound and you pass everybody else who got frustrated and started taking shortcuts. Meanwhile, those who are experiencing fast results after three to six months tend to go into defense mode. They start to protect what they've got. And when they go into defense mode, they start to lose it. When they start defending rather than continuing to compound what will result in millions of dollars over a long term, it starts to shrink. And so you pass all of those people after about 12 months. Let's look at the investing example. When I have talked about investing $541 per month. Some people have said, you're not counting inflation or what if the market goes down? These are all reasons why you might not invest. You might decide to just spend that money or to keep it in cash. Well, after about 12 months, if you were to invest $500 per month, you would have about $6,500 in savings in a broad-based index fund. That's $541 a month times 12. It's about $6,500. And then you factor in that the average growth rate of index funds is about 9%. That pushes it over $7,000. That's great. It's a great start. Meanwhile, the person who said, inflation is going to eat that away anyway. Why would I do that? They invested zero. Now, the difference between zero and about $7,000 isn't a life-changing amount of money. But this goes on for two years, five years, 10 years. And what I've experienced is the person who says that there's reasons not to invest or reasons not to do the compounding things, they stay on the sidelines for a very long time. Instead, they try to make money online with short-term tactics and tricks. They buy the next course. On the other side, the person who has been investing consistently for five, 10 years, has built up a nest egg that is now over $100,000. And it continues to compound and grow during good times, during bad times. Sometimes their portfolio looks up. Sometimes it looks down. But they continue to do those things that person number two said was insignificant. Over the course of a few years, their lives look completely different. The person who invested consistently now has the cover to say, I'm going to start that business. I'm going to take that risk. I have enough cash flow now. I'm going to start that business. I'm going to start that where I can bet on Bitcoin or that NFT project or whatever it is that you want to speculate in. And the second person is still trying to take risks to make up for lost time. Oftentimes when we feel behind, we try to close the gap by taking bigger and bigger risks. So we look for the thing that has a hundred X possibility. And we bet on a few of those in order to close the gap in our mind that says we're behind on our timetable. Instead of doing the small things that compound or 12, 24, 36 months. So my invitation to you is to go through this mini series and see it as a reset, a way to start the road to 1 million by doing two things, by investing consistently in a strategy that is going to compound over many years and even many decades. So that if nothing else happens, you're on the road to 1 million. And secondly, if you're on the road to 1 million, you're on the road to 1 million. And second, I hope you use it as permission to build a business that you're going to compound over many years. It's those types of businesses that see the long-term success. It's those businesses that after 12 months become million dollar businesses. And after four to five years become something that you can sell for an eight figure amount of money. I know from personal experience and from mentoring thousands of entrepreneurs that the people who win have big visions, but they're willing to do the small insignificant things that no one else sees. They're compounding their results rather than swinging for the fences. I mean, if all that happened was that you have one product that does modestly well over a period of three to four years, if you were to continue to invest in that product, to make it better, to be good to those customers, to get reviews, to document the growth of the business, for three to four years, is it reasonable to think that one product could be doing 50 sales a day at a $50 price point? If so, you've got a business that's doing hundreds of thousands of dollars with really strong cash flows. It's a small business, but it would be enough for you to be full-time and it would be enough for you to invest thousands of dollars per month and build a nest egg of millions of dollars over the course of your life. That's if you don't have a big win. That's if you don't swing for the fences. That's if you just do the little things that compound over a very long period of time. If you do those two things, then the road to 1 million is very clear. It's building a cash-flowing business and it's investing the profits. And over the course of this mini-series, I'm going to teach you some of the things that I go into depth inside of the free course called The Road to 1 Million. At any time, you can go over to capitalism.com slash million, you can enter your best email address and go through the full course for free. This took me three months to make. I'm very proud of this. I have not put so much intent and love and care into a project since my first book, which is called 12 Months to 1 Million. And I put so much intention into it because I believe that if you take the steps that we talk about in this mini-series and in the free course, that you're going to be on the road to 1 million. It's almost impossible, not to be if you focus on doing the long-term compounding things that build businesses and invest the profits. So make sure you're subscribed to this feed so that you see the entire mini-series and whenever you're ready, you can go through the full course for free at capitalism.com slash million. I'm Ryan Daniel Moran with capitalism.com. Thanks so much for joining me today. And I'll see you on the next part of this mini-series inside the road to 1 million. Thank you. And I'll see you next time. If you've read my book, listen to the podcast or watch any of my YouTube videos, and you're asking yourself, where the heck do I start? Where do I begin my journey to my million dollar business? We got you today. My team and I just completed a new kickstart class called five days, seven figures. This is the best on-ramp class for any of you who are ready to begin your seven figure journey. In this five day class, you're going to choose your ideal market, what products to launch, come up with a plan to get each one of them to 25 sales a day. And you'll know at the end of the class, exactly what your business is going to be, how you're going to get it to a million and exactly what your next steps are to get it off the ground. It's a five day class. It costs a hundred bucks. And when you're done, a member of my team will get on the phone with you and review your homework directly with you. When you're ready to start, go take the challenge, at capitalism.com slash five. That's the number five, five days, seven figures, capitalism.com slash five.
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