Breaking down the numbers

In thinking about how to make $1 million dollars, we need to break this number down. If my goal is to make $1 million dollars by July 22, 2017, that means I have to make $34,482.77 every month for the next 29 months. Wow?! How is this even possible? Unless I was a very well paid CEO of a big corporate company, celebrity, famous music artist, or an elite athlete making a ton of money - making $30k+ doesn't seem realistic for the average person.

Let's break this monthly targeted number even further to find out how much money we have to make per day. 29 months is equivalent to 883 days. If I take $1,000,000 divided by 883 days, it equals $1,132.51. This is how much money I have to make per day for the next 883 days.

Now, the challenge is still trying to figure out how to make $1,132.51 per day. If I divide this number by 8 working hours in a day, I have to make $141.57 per hour. We can check our calculation to see if we're still on target. $141.57 x 8 working hours = $1,132.56. Let's then take $1,132.56 x 883 days = $1,000,050.40. The numbers are slightly off with rounding but it still hits our target of $1,000,000.

When you break down the numbers, it seems to be a bit more achievable, but now the real challenge is figuring out to how to make roughly $1,135.00 per day. For most people, to make $1,135.00 per day is not realistic. This is where you now have to get creative and think about different ways of generating multiple streams of income. If I had 5 streams of income coming from different sources, this means each business would have to net $227 ($1135 / 5 = $227). It's now time to brainstorm ideas of how I'm going to generate multiple streams of income.