There are roughly 7.9 million millionaires in the United States — up 562,000 in the last year alone. As the average net worth rises, you might be wondering how to join the ranks and become a millionaire yourself.
GOBankingRates asked artificial intelligence (AI) search engine Perplexity how to turn $10 into $1 million. Here’s what it said and how viable the advice might be.
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There Are Several Strategies
According to the AI tool, there are three main strategies for turning $10 into $1 million. The methods are: long-term, realistic strategy, moderate-risk with high-effort method and the high risk but low-probability gamble.
None of these are without risk — as the inclusion of the term “gamble” indicates. And there’s a definite time commitment. That said, if you’re looking to become a millionaire with such a small starting sum, there’s hope.
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Realistic, Long-Term Strategies
According to Perplexity, there are two viable long-term methods to turn that $10 into $1 million. The first is to invest that $10 into a diversified index fund, potentially the S&P 500. With regular contributions of about $100 a month, and with an average annual return of 10%, you could reach millionaire status in about 35 to 40 years due to compounding interest.
You’ll often find financial experts who support investing for the long haul to build net worth, so this tracks. Just know that market volatility plays a key role in how much your money can grow. If you skip certain months, or invest less from time to time, your returns may also be lower.
The other realistic, long-term strategy for growing your wealth to $1 million is to start a business, says Perplexity. Ideally, this will be a business that doesn’t require much capital. This could be something like selling digital products or even freelancing. You can use the $10 to purchase a website domain. It’ll take time, effort and a whole lot of skill, but it could happen.
Moderate-Risk, High-Effort Paths
If you’re hoping for something a little quicker, Perplexity also suggested two moderate-risk, high-effort strategies. The first is to get involved in flipping items or arbitrage on platforms like Craigslist or eBay. Success rates vary based on research, effort, skill and interest. It’ll also likely take time to scale up.
If that doesn’t appeal to you, the AI tool’s other suggestion might. It involves investing that $10 in personal growth and profitable skills, which you can then monetize as a business owner or entrepreneur.
As of now, valuable skills may include things like design, coding or digital marketing. But this can quickly change. According to the 2025 World Economic Forum’s Future of Jobs Report, nearly four in 10 workers will need to update their existing skill set in the next five years to remain competitive in the workforce.
High-Risk, Low-Probability Gambles
Gambling might not be the safest option, but if you’re trying to reach millionaire status quickly, it might be worth considering. Only invest whatever you’re willing to lose.
As for what to gamble on, Perplexity suggested two things.
The first is speculative or volatile assets like cryptocurrency or penny stocks. The AI tool did acknowledge that the odds of success are low, and you’re likely to lose your original investment. Losing $10 isn’t so bad, but be careful when you start investing larger sums.
The second option is lottery tickets or straight-up gambling — such as at the casino. Again, the odds of losing it all are astronomically high. But it might not be the worst outcome if that loss is only $10.
Bottom Line
There are many possible routes to becoming a millionaire. But Perplexity’s advice is to practice discipline, invest for the long term and improve your own education and skills. Building a business is another option that might take time, commitment and a healthy amount of risk, but can bring about some long-term gains.
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This article originally appeared on GOBankingRates.com: I Asked Perplexity How To Turn $10 Into $1 Million: Here’s What It Said
