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You Wanted to Become a Millionaire?

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You Wanted to Become a Millionaire?


This article was posted on Sunday, 11:49, UTC.

A couple of days ago I wrote my reflections around my first investment to reach $1 000 000 in equity. I received an interesting comment saying:

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Thanks for the honnest follow up.
You wanted to be a Millionair ??????.
With this investmemt that is not going to work.
You need to take risks for that.

This is not a dumb comment, it is exactly the comments I want on my posts. Comments that are challenging me on the choices I take. So I’m grateful for the comment and will explain why I believe I can become a millionaire with the investment choices I’m making.

Make interest rates your new best friend

As I explained in my previous post, I chose to invest my first 10 000 NOK (approx 1200 USD) in a corporate bond fund that has seen a 10% increase on a yearly basis. The corporate bond fund has a higher risk than governmental bond funds and money market funds, but its less riskier than placing your money in an index fund or stock fund. At the time being, I do not feel comfortable going into stocks or an index fund due to the record highs. There has been more than 7 years since the last recession, and I feel we can easily plunge into a new recession when the FED sells bonds they been using for quantitive easing. I might be very wrong, but this year I’m looking into less riskier investments.

When that is said, I’m not only going to invest in a corporate bond fund (for ever), but it’s better to have money placed in a corporate bond fund than in my savings account. I’m waiting on the correct timing to enter other markets, and I need to have patience for that (and CASH).

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But still, I believe I could become a millionaire by just investing in corporate bond funds.

The math

Let’s say I invest 30% of my income in the same corporate bond fund I invested in, and let’s say that corporate bond fund will see a yearly ROI of 10%. I also believe I’ll be able to increase my income with at least 10% per year. So:

Year one

I will have 120 000 NOK in a corporate bond fund (10 000 NOK x 12 months). With a 10% ROI I would have a total of 132 000 NOK (after 12 months per investment, I’m simplifying the math here).

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Year two

I will invest a total of 132 000 NOK in the corporate bond fund this year (10 000 NOK x 12 months x 1.1), making the total funds in the corporate bond fund 264 000 NOK, and after the expected 10% return, the fund will have a total of 290 400 NOK.

Year three

A total of 145 200 NOK will be invested of my income. The total funds will be at 435 600 NOK and after the 10% increase it will be 479 160 NOK.

Year four

Investing: 159 720 NOK
Fund size: 638 880 NOK
10% increase: 702 768 NOK

Year five

Investing: 175 692 NOK
Fund size: 814 572 NOK
10% increase: 896 029 NOK

Year six

Investing: 193 261 NOK
Fund size: 1 089 290 NOK
10% increase: 1 198 219 NOK

Year seven

Investing: 212 587 NOK
Fund size: 1 410 806
10% increase: 1 551 886

Year eight

Investing: 243 745 NOK
Fund size: 1 795 631 NOK
10% increase: 1 975 194 NOK

Year nine

Investing: 268 119 NOK
Fund size: 2 243 313 NOK
10% increase: 2 467 644 NOK

Year ten

Investing: 294 930 NOK
Fund size: 2 762 574 NOK
10% increase: 3 009 339 NOK

Year elleven

Investing: 324 423 NOK
Fund size: 3 333 762 NOK
10% increase: 3 667 138 NOK

Year twelve

Investing: 356 865 NOK
Fund size: 4 024 003 NOK
10% increase: 4 426 403 NOK

Year thirteen

Investing: 392 551 NOK
Fund size: 4 818 954 NOK
10% increase: 5 300 849 NOK

Year fourteen

Investing: 431 806 NOK
Fund size: 5 732 655 NOK
10% increase: 6 305 920 NOK

Year fifteen

Investing: 474 986 NOK
Fund size: 6 780 906 NOK
10% increase: 7 458 997 NOK

Year sixteen

Investing: 522 484 NOK
Fund size: 7 981 481 NOK
10% increase: 8 779 629 NOK = 1.02 Million USD


As you can see, I’ve reached 1 million USD within 16 years. Of course I’m relying on a 10% ROI per year, which may not be the case, and I’m relying on a 10% yearly increase in investments, and I’ve not included capital gains taxes. However, it is possible to become a “millionaire” by risking less – even if it takes longer time. Some might say 16 years is a long time, but it’s really not. If you reach 1 million USD, it’s much easier to hit the next. More money means more possibilities.

This was just an example, and I’m pretty sure I won’t just invest in a corporate bond fund, and I also believe I’ll hit the 1 million dollar mark much sooner. The most important thing when investing your money is to: Never Lose Money.

What are your thoughts?

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Jonas Borchgrevink

Jonas Borchgrevink

Founder of and CryptoCoinsNews

  • user


    Posted on 5:03 pm April 30, 2017.

    Have considered whether this will be enough money for you in 16 years?

    I live in Los Angeles and frankly it would not be enough for me to live here in the way I’d consider comfortable. In the last 5 years, rents have gone from $1700 USD for 2bdm to $4000 USD. 2 bdm homes start at $650K and most at this price will need significant work.

    Even if I could get 10% interest per year, after capital gains taxes, I would be looking at $60K or $5K per month. No way.

    I’m not sure if you’re talking about retiring on $1mil a year but as you can see from the math above, I would need at least $2-3mil USD in order to live comfortably in LA.

    • user

      AUTHOR Jonas Borchgrevink

      Posted on 5:18 pm April 30, 2017.


      Interesting thought. My main goal is the following:

      – Having a cash flow of $10 000 a month (passive or semi-passive)

      – Having $0 in debt

      – Owning a decent home where I can live for the foreseeable future with my family (4 rooms, nice garden and community = approx. $1 000 000 in Norway)

      – Having a cash backup of at least $500 000

      You have to adjust your expectations and your goals depending on where you live and what you want to accomplish.

      What do you do for a living? I expect that you earn more than me since you are living in LA?

      And I’m not talking about retiring. I will never want to retire, but for me financial freedom is to be able to stop worrying about your own finances and that you have the freedom to do whatever you want to do.

  • user

    AUTHOR sambkf

    Posted on 6:38 pm April 30, 2017.

    We inspiring. My mother wants to invest but doesn’t have time and the willingnesss to understand financial assets. Your blogpost gives me food for thoughts and a path to walk. Thanks !

    “financial freedom is to be able to stop worrying about your own finances and that you have the freedom to do whatever you want to do.”

    As an aparté along that line…
    The last of the ten richnesses Napoelon Hill identified is material wealth; of your own choice and quantity (ref: Think and Grow Rich). However poverty and want are the number one negative thinking seeds “the devil” relies on to control people and hold them away from their highest purpose (Ref:Outwitting the devil).

  • user

    AUTHOR jacobss

    Posted on 8:38 pm April 30, 2017.

    Hello Jonas,
    Thanks for the explanation.
    Your math for 16 years is best case scenario. But succes planning is important in this business.
    The 16 years can easily become 20 or more and inflation will take its part as well.
    I would suggest to spent 3 years full blast in Cryptos like Ripple and Lumens and a few decentralized as well. Give it a nice spread and as long as you make money ? don’t give up.
    If you find yourself in a year or 2 in the minus all ready then you can still swop to your “safe” way of investment.
    At this point I’m way ahead of my schedule so I continue with the cryptos
    I wish you good luck.

    • user

      AUTHOR Jonas Borchgrevink

      Posted on 9:30 pm April 30, 2017.

      Thank you Jack. Of course, it can easily drag on for the next 30 years, but still, I’m going to reach $1 000 000. I’m out of cryptos for now, for me it’s just too unsafe. But for others it might be the correct market to be in. That’s totally up to you to decide.

  • user

    AUTHOR JonasMertens

    Posted on 8:44 pm April 30, 2017.

    Nice thoughts, but I’m a bit horrified by the mathematical simplifications and unrealistic assumptions in this piece. All in all I’m not sure you’re doing anyone a favor by publishing something that is so simplified that it loses its connection to reality.

    • user

      AUTHOR Jonas Borchgrevink

      Posted on 9:34 pm April 30, 2017.

      Hello Jonas,

      I’m not quite sure I follow you. Can you please elaborate why it’s so simplified it loses its connection to reality? My main purpose with this blog post is to show that you can become a millionaire by investing in low risk opportunities, such as a corporate bond fund. But of course, the math is simplified to make a point.

      If you can give me some more details of why I’m so wrong, I would be able to give you a better response.

      And I must say I disagree with the statement that I should not publish articles like these, as for me personally, it does give people an idea that they do not have to risk their entire savings account to be able to become a millionaire, it just takes time.

  • user

    AUTHOR johnathankelly

    Posted on 7:14 pm June 4, 2017.

    Jonas, you have done the most important thing with creating wealth. You have gotten started. As time goes along, you will learn more and make other investments. You can only invest in what you feel comfortable with. As a man with a family, you are constrained in what you can do. As a single man, you can take more risk that a married man with child, can not.

    A word of caution. The corporate world is not as safe a you may think. With all the easy money that central banks have provided, corporations have been making bad choices in their investments. Instead of building up their businesses, they have been buying their company stock and taking the prices higher. Make sure to investigate the company to insure they can sustain the 10%.

    I live in the US and in 2011 I took a job working overseas. One thing many people don’t know is that if you work overseas, you do not pay taxes in your home country on the money you make in a foreign country. This is a great way to build wealth. Unfortunately, the US is the exception. After $100,000, we have to pay taxes.

    My plan was to work for 12 years and buy 2 4-plexes (4 unit apartment buildings) in the US. After 2 years, I realized that it was taking too long to save the money to buy the buildings. So I started learning about investing. Everything I learned, cut time off my road map. I read an author who has helped people become wealthy in 10 years by working and building their business on the side until the business’ earnings eclipsed their paycheck. Doing this, I am down to only 10 years and with crypto possibly only 8yrs.

    Keep learning, you will get wiser and reach your goal faster. With your two websites, you are already ahead of the game. Both websites will grow in popularity as crypto becomes more mainstream and bring in more income.

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