OK, now let's look at numbers. At $50,000 with 100% interest compounded every month, you are a millionaire in 5 months.

At $50 (1/1000th) with less than one third interest (30%) compounded every month you are a millionaire in 3 years 2 months, only 7.6 times longer, yet much less principle (1/1000th) and much less risk!

And once you get to 1 million, 7% a month is enough to spend 1 million a year and still have your money well outpace inflation.

So if someone wanted to get to 1 million dollars (who doesn't) and has patience to wait a few years, also wants to be pretty sure they will get there rather than losing it, and doesn't want to risk too much, we think about $500 at 20% average per month which will be only 3 years 6 months to become a millionaire.

A good, and probably best, argument as to why you should go for high yields, is to close "risk window" fast. This can be important at start so you can use money to diversify. Later you will want more security and you will have a broader base of more secure lower paying programs to provide it. You can go on vacation without worrying that your Very High Yield risky fund has collapsed and taken a large percentage of your "float" with it.

Of course all above is based on assumption that something that gives a 60% interest per month is more than 3 times riskier than 20%. (and will have less than 1/3rd life span). Not always true, but a rule of thumb. You have got to remember that none of these is like "invest and forget about it" rules of conventional 3% a year federally insured bank accounts. It is like being an independent adult. You can lose. No one is going to take that loss for you. But let me tell you this, rewards are much greater also, and they are ALL yours when you earn them by your own self-discipline, persistence and experience. Thinking and Speaking about Money in Enriching Ways

In book Rich Dad, Poor Dad, Kiyosaki compares his "two fathers": his biological father who was a teacher and his mentor who was a businessman. The teacher was his "poor dad" and businessman was his "rich dad." His poor dad said: "The love of money is root of all evil." His rich dad said: "The lack of money is root of all evil."

The quote below from Rich Dad, Poor Dad is extremely important. It powerfully illustrates what I call "Slavespeak" -- phenomenon of certain words having hypnotic, stupefying, and debilitating effects on their users.

"Because I had two influential fathers, I learned from both of them. I had to think about each dad's advice, and in doing so, I gained valuable insight into power and effect of one's thoughts on one's life. For example, one dad had a habit of saying, "I can't afford it." The other dad forbade those words to be used. He insisted I say, "How can I afford it?" One is a statement, and other is a question. One lets you off hook, other forces you to think. My soon-to-be-rich dad would explain that by automatically saying words "I can't afford it," your brain stops working. By asking question "How can I afford it?" your brain is put to work. He did not mean buy everything you wanted. He was fanatical about exercising your mind, most powerful computer in world. "My brain gets stronger every day because I exercise it. The stronger it gets, more money I can make." He believed that automatically saying "I can't afford it" was a sign of mental laziness." An elite team of regular "Joes's" fighting back & making huge cash online one day at a time. dDawg as a team has been able to create a profit on internet. http://www.str8junk.com/heavyhitter.html

This man was an ideal candidate for converting his sole proprietorship to a corporation. In about 30 minutes I showed him how he could save over $5,000 in taxes per year by implementing that one strategy of incorporating.

His response: "I don't have time."

Yes, it would take some time to implement this strategy. And it would take some time to maintain this strategy. Guess how much? About two hours a month, max.

You do math. Better yet, I'll do it for you.

If he spends 24 hours a year doing what it takes to maintain a corporation, he's just made $208.33 per hour at this new part-time "job".

Hmmm. How many self-employed people can go out and make five grand a year for 24 hours of work? Can you think of any? I sure can't.

I showed him numbers I just showed you.

His response: "But I don't want to change way I do business."

Ahh, now we're getting somewhere. Now we just got to heart of matter. He finally told me real reason for his unwillingness to save $5,000/year: he was unwilling to change.

Did you get that?

And this is actually a very common reaction to an effective tax reduction strategy. I've seen it many times.

If there is change involved, people are often unwilling to implement tax reduction strategies -- it's too new, too different, too time consuming. Too whatever.

So I'd like to challenge you with this simple question: Are you really willing to make changes required by an effective tax-reduction plan?

All tax knowledge in world won't do you any good without right attitude toward change. Before pursuing tax reduction strategies, make sure you are ready to change.

Wayne M. Davies is author of 3 tax-slashing eBooks for the self-employed, available separately or as a 3-volume set, "The Ultimate Small Business Tax Reduction Guide". http://www.YouSaveOnTaxes.com/ultimate-guide