How can I make two million dollars, without the lottery?

The first step is to learn financial discipline. It doesn’t matter how much you earn if you just spend everything you earn. Start now. If you have a job or get an allowance, or odd jobs baby sitting…or birthday money, or whatever source of money you have, put at least 20% aside and don’t spend it. Once you have about $1000 saved up, open an investment account with a reputable firm. If you want to invest in CDs, you might look at everbank. If you want lots of options (including options), try a reputable broker such as TDAmeritrade. You’ll need to study up on the basics of investing when you get to that point, so you can make decisions that are in line with your risk tolerance.

The next thing you need to do is look for a career that pays reasonably well. It used to be that going to college was the best way to get ahead, but that isn’t so true anymore unless you can get someone else to pay for it. Consider a trade instead of college if you’ll be funding college with loans. Electricians, plumbers, etc., are trades that pay better than most college degrees, and they can not be outsourced to India.

Next, make smart life choices that allow you to continue putting 20% of your takehome pay into savings. Don’t run out and buy the most expensive car you can afford. Don’t live in the most expensive house/apartment you can afford. Live below your means. Half of the 20% you’re putting aside is for emergencies (real emergencies, not an emergency new pair of shoes that look cute). The other half is the part you will never touch no matter what.

Other life choices that will maximize your savings:

• Live together rather than getting married. You’ll share expenses, but without the financial risks of marriage. A divorce can financially destroy you. A spendthrift spouse can blow all your hard earned money frivolously, or commit both of you to debt without even your knowledge.

• Don’t have children. They are extremely expensive. Get a dog instead.

Then just let time work for you to build up your nest egg.