How to Become a Millionaire With One Dollar. Any effort to save money needs a goal so that the saver sticks with the program. You can turn a dollar into a million, providing you have lots of patience or very few scruples or both. Someone has tried nearly all of these plans, with varying effect.
Use compound interest to create your fortune. Of course, for this to work you need a very high rate of return and a very long time. Ben Franklin used this tactic when he gave $5,000 in his will to both Philadelphia and Boston; 200 years later, these funds were worth more than $20 million each.
Never spend any of the money you make--including that taken by the government--and by many estimates you will collect $1 million. Of course, this plan requires that you live in your mother's basement for 40 years and never even go out for pizza, so the social costs of such a plan are severe.
Sue a doctor or hospital or, better yet, tobacco company. Your best bet here might include getting run over by a drunk obstetrician because these specialists are heavily insured. Naturally, as with any money-making scheme there is risk; in this case, you risk getting killed or maimed for life from the accident. Then again, maybe you could just spill some really hot coffee on your lap or slip a severed finger into your restaurant meal.
Save the old fashioned way, one dollar at a time. Save half of all you make as a kid and work like crazy at paper routes, lawn mowing and dog walking. These activities provide health benefits over sitting in front of a computer game, anyway. As an adult, find a profession that pays well but does not require expensive education; try air conditioner installer or plumber. Save 10 percent off the top from every paycheck. Refrain from having expensive children, purchasing a house or buying more cars than you need. Invest all this cash in high-yield instruments with low risk. Soon, you will have a million bucks.