Do you want to a millionaire? It is not as
complicated as everyone makes it seem. All it requires is a little discipline
and time, and you would be able to purchase that house, that sport car, go on
that vacation, or do the things you would love to do with your family and
friends. With a desire and a plan, think about the freedom you would enjoy. First
I want to start by asking you to envision yourself as a millionaire, have you
ever heard the quote “if you can believe it, then you would see it”. Secondly,
I want you to try to live within your means, and try not to spend money on unnecessary
things (that might mean cutting back on some Starbucks, trust me short term
pain for long-term gain). Can you save $50 dollars a week? If yes, pad yourself
on the back because you are one step closer to becoming a millionaire. Albert
Einstein once said that the eighth wonder of the world is compound interest;
let me show you what he means. A 20 year old who saves $50 a week, invests it
in the stock market which has earned an annual return of 9.8% a year will be
worth $1,779,006.52 at the age of 65. Please click on the link to see the magic
for your self don’t take my word for it. (http://www.moneychimp.com/calculator/compound_interest_calculator.htm).
Guys I have shown you the clear path to becoming a millionaire and living the
life that you have envisioned with only $50. If you think you can save more,
you will be able to get to your destination faster. Now for some action steps,
Open a savings account and commit to saving 50$ a week. If you have to, set up
an automatic transfer of 50$ from your checking to your savings account every
week. Open an investment account at an investment firm, there is no cost associated
with opening an account. Select an appropriate investment vehicle that will
help you accomplish your goal(sorry I am not allowed to give any specific
advice because I am not yet licensed but feel free to check out this link that
contains information about a fund most self directed investors use https://investor.vanguard.com/mutual-funds/target-retirement/#/)
, and then set up an automatic investment from your saving account to your
investment account. Congratulations my future millionaire, now sit back and watch
the power of compound interest. By becoming a millionaire you will not only
fulfill your dream but help me in my vision of “helping billions of people all
around the world, to be financially literate in the management and accumulation
of wealth”.
