Save to Become a Millionaire
People ask me the following common queries.
- How to become a Billionaire?
- Is it possible to become a millionaire in one generation?
- I am doing a job. Can I become a Millionaire?
- I earn only US $ 40,000 per year. Can I Become a Millionaire?
- Which is the best investment advise to become a millionaire?
- And many more queries like this.
Well, the answer of all of the above question is – It is Possible to become a Millionaire. All you have to do is Start Savings & Investing as early as possible in your life means now.
This is the 95% advise that anyone in this world needs to become a millionaire or even multi-millionaire. If you start saving US $ 2000 every year at the age of 25 years in Vanguard Index Mutual Fund than after 40 years when you retire at the age of 65 years, your net worth will be more than US $ 1 Million assuming the long term US Stock market return of 11% from the Vanguard mutual funds.
Your Total Investment over the period of 40 years will be just US $ 80,000. and still you can retire with a million dollar. It is that much easy. And if you can save more than $ 2000 per year, you can retire with millions of dollars.
The only thing is that, you have to start savings & investing early. The earlier you start, the compound interest will work more in favour of you to make you rich over the time. Most of the people spend lots of time behind learning complex financial products and sophisticated investment strategies. But they fail to take action. They fail to start early.
Time is the most precious element in investing. So Start Saving to become a Millionaire…!!!