Average Wealth of Americans

Average Wealth of Americans

In the United States is considered as Net Worth. Net Worth is Calculated as Total number of Assets minus total number of liabilities. It means that what you own (Assets) – What you owe.

Say for Example, if you own a Car worth of US $ 300,000 and you have a car loan of $ 100,000 than your Net Worth is US $ 200,000. Thus, you have to calculate all of your assets and subtract all of yur liabilities from your assets.

The Wealth Distribution in United States is very uneven. Just 25% of the households of United States own total 87% of the Total Wealth according to 2004 data. And this is a very common phenomena worldwide.

Across all groups, the 2007 median net worth was $120,300 and the mean was $556,300 (guys like Bill Gates and Warren Buffett really mess things up).

Here are a few of the more interesting ones (2007 median data, 2007 dollars):
Current work status of head:

• Working for someone else: $350,100
• Self-employed: $1,961,300
• Retired: $543,100
• Other not working: $124,100

Race or ethnicity of respondent:

• White non-Hispanic: $692,200
• Nonwhite or Hispanic: $228,500

Housing status:

• Owner: $778,200
• Renter or other: $70,600

The easiest way to see how you stack up is by using CNN Money’s Net Worth calculator. I don’t know how fresh the data is, they only cite Nielsen Claritas as their source (with no date), but it’s good enough for our entertainment purposes. They offer two median net worth charts, one based on your income and one based on your age (the two charts are independent).

Age:

• < 25: $1,475
• 25 – 34: $8,525
• 35 – 44: $51,575
• 45 – 54: $98,350
• 55 – 64: $180,125
• 65+: $232,000

Income:

• < $25K: $1,250
• $25K – $49K: $34,375
• $50K – $74K: $168,500
• $75K – $99K: $301,475
• $100K – $124K: $301,475
• $125K – $149K: $644,100
• $150K+: $1,122,900

So now check that weather your current net worth is above the average standards or below it? Tell me that where do you stand in the above wealth averages of the Americans?

Investing to Become a Millionaire

Investing to Become a Millionaire

Investment is a game of making your money work for you rather than you work hard for the money. Investment is the game by which rich people multiply their money. If you want to become a millionaire some day in your life than, you will have to play on the playground of the Investment.

You will have to make your money work for you harder to become a millionaire in your life. Your money has the same potential to work like you in the economy and generate more money. The advantage of making your money work for you harder is that, your money can work for years and even decades for day and night without being fatigue.

You can not work for decades with the same efficiency for day and night. If you know how to invest, becoming a millionaire will be very easy and automatic for you. However, you will require lots of financial IQ to make your money work for you.

You will have to find good places (Assets) to park your money so that it don’t get hurt and where it can grow easily without hurting by Tax & Inflation. Yes, Tax and Inflation are the 2 major money killers. They hurt your money. So you should always invest your money in such a manner that these 2 money killers hurt your money little.

So if you have not started investing yet, start investing now. This is because Investment is the only way to become rich and financially free. The earlier you start, the earlier you will become a millionaire. It is as much easy.

So start making your money work for you rather than you work hard for the money.

Become Internet Millionaire

How to Become the Internet Millionaire?

This is the Information age and it is possible to become an Internet Millionaire in your twenties and early thirties by starting your own business on the Internet. Yes, today the whole the world is connected with the Internet and that’s why a school going kid can also start his own business on the internet and become a millionaire.

In the United States, total 250 Million Unique visitors access the Internet on the regular basis. This means that, you can find the market for virtually any kind of product and service on the Internet. Now, just imagine that, Starting your own Blog, Forum or the Internet Business means targeting these 250 Million Americans at a single shot.

And that’s why the opportunity of becoming a millionaire and a billionaire is much higher on the internet. US Web Traffic is world’s one of the most quality web traffic on the planet. and many Individuals, corporations & Fortune 500 Companies from all around the world are targeting this 250 Million high quality US Web traffic daily which combinely generates 520 Billion page views a day on the Internet.

Many Bloggers around the world are still in their twenties and they are the Internet Millionaires. Yes, the net worth of their blogs is in Millions. Read the Eyeball Valuation on Kameir.com

According to the Industry standards of the above Article, for Blogs the value of 1 unique visitor per month is US $ 10. That means that if your Blog receives 100,000 unique visitors per month than it means that it’s valuation is whooping US $ 1 Million.

About.com was sold to New York Times for whooping US $ 450 Million because it had 45 Million Unique Visitors every month. This Blog receives 14,000 unique visitors a month. This means that the valuation of this blog is US $ 140,000….!!!!

And I have created this much valuation in less than 2 years of blogging without any investment except the investment of 4-5 hours a day and my internet connection bill.

This means that, the more eyeballs you control in the Information age, the more money you can make in this age. You can become the Internet Millionaire by attracting literally hundreds of thousands of eyeballs…!!!!

How Much to Save to Become a Millionaire?

How Much to Save to Become a Millionaire?

This is the commonest question people ask me when I say them that, it is possible to become a millionaire by regular savings and investing. The obvious question is, how much money anyone should save regularly to become a millionaire one day in his life?

The US Stock market has historically given 11% annual return in the long run. Dow Jones has given 10-11% return every year in the long time horizon (More than 10 Years). So we will assume this rate of return from the US Stock market in the long run for the future.

Now, if you run the compound interest calculator than if you start investing $ 2000 every year in the Vanguard Index Mutual fund at the age of 25 years than after 40 years, on the age of 65 you will have US $ 1 Million of Corpus assuming the rate of return of 11% from the stock market.

Now, What if you save $ 4000 every year from the age of 25? Well, in that case you will become millionaire 10 years before means at the age of 55 years only means just after 30 years from you start investing. Well, see becoming a Millionaire depends on three things.

01) Amount of Money you Invest

02) Amount of Time you Invest

03) Rate of Return on your Investment

Now, What if you Invest this money in something which gives you 20% annual return? Say for Example, The Internet Business? You can expect 20% annual return from the Internet business easily. Well, in that case after 40 years, your $ 2000 invested annually will become $ 40 Million….!!!!

And you will first time become a millionaire just after 20 years means at the age of 45 years (Assuming that you have started investing at the age of 25).

Thus, how much money you should save to become a millionaire really depends on the rate of return on your investments as well as how quick you want to get rich. So Save Accordingly…!!!

Ways to Become a Millionaire

Ways to Become a Millionaire

Becoming a Millionaire is anyone’s dream in life. 1 Million Dollars is the landmark of financial success. If you reach this landmark than you can fulfill all of your dreams in your life. People ask me about the ways to become a millionaire. Well, you can become a millionaire in any field. There are lots of ways to become a millionaire.

Read here 41 Ways to Become a Millionaire by millionaire-opportunities.com

You can see in the above list that, you can become a millionaire from any field. You can become a millionaire by doing a high paying job at management level of some large corporation, by becoming a successful professional in any field, by doing a Business or by doing Investing.

There are lots of ways to become a Millionaire and I divide these ways into 4 broad groups.

01) Become an Employee (Here you work for someone else)

02) Become a Self-Employee (Here you work for yourself and provide some kind of professional service in the economy)

03) Become a Business Owner (Here you own a Business and you hire employees & self-employees for your business to run it properly and you collect money from the investors to do a business. Here a System (Business) works for you rather than you work hard for the money)

04) Become an Investor (Here your money work for you in the economy and generate more money rather than you work hard for the money like employees & self-employees)

Thus, you can become a millionaire by any one or more of the above ways. But your life will be different in all of the above ways. I Personally prefer to become a millionaire by becoming a business owner & the Investors and that’s why I have started my own Blog Business.

The only problem with becoming a millionaire by being an employee or a self-employee that, the more you will become rich, the less time you will have for your family and for your own life to enjoy. If you are doing a job at some high management level of some corporation than more you get rich, the more responsibilities you will have and the less time you will have to enjoy your life.

If you are a famous and rich doctor, you will have more money but less time for your family.

But the thing for Business Owners & Investors is different. For a Business Owner or an Investor, the more they get rich, the more time they will have to enjoy their life. Because the more their business and investments grow, the more they become independent and afford to higher high class level of business or investment managers to run and manage their businesses and investments.

Take the Example of this Blog. This Blog is my Internet Business. The main advantage of owning this business is that, the more it will grow, the more money it will make for me and more rich i will get over the time and the more rich I will become, the more time i will have to enjoy my life.

If this Blog Business grows sufficiently, I can hire a team of writers to run it even without my presence and by doing this I can add 60-80 more free hours in my life every week to travel the world and enjoy my life.

So which way to chose to become a millionaire is very important decision in your life.

Save to Become a Millionaire

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…!!!

How to Become a Millionaire Fast?

How to Become a Millionaire Fast?

All the people in this world want to become a millionaire and that is also fast. A Million Dollar is 10,00,000 Dollars…!!!! It means a Financial Freedom. Million Dollar mark is anybody’s dream. And anyone can become a millionaire by investing in the stock market or in some equity fund regularly and with patience for 20-30 years.

Becoming a Millionaire is not a rocket science. It just require the disciplined investing over a period of long time. Now, What if you want to become a millionaire fast? What if you want to become a millionaire in your twenties or early thirties and want to enjoy your life travelling the world, cruises and World Class Restaurants?

Now, first of all the question is that, is it really possible to become a millionaire this much fast and if yes than how?

Well, the answer is Yes. This is the Information age and in the Information Age, it is really possible to become a millionaire fast, say for example in your twenties or thirties. This is possible with the help of the Internet Business.

If you are the owner of some kind of Internet Business than it is possible to become a millionaire very fast. All the Web Property & Internet Business owners of this world can become a millionaire very fast if they really want.

Take the Example of this Blog. This Blog is my Internet Business and most valuable Asset. Just 2 years before I had nothing in my bank account. But today the Valuation of this Blog alone is in 6 figures in dollars. Yes, if today I sell this Blog than I will get not less than 6 figures by selling this Blog.

Of course, unless I sell this Blog, this Capital Gain will remain “On Paper” Only. But the thing is that, I have made this much amount of money in just 2 years of starting this blog. So This is really possible in the Information Age.

Because of the Internet, you can now make money at the speed of light.