How Compounding A Simple Monthly Investment Will Make A Millionaire - Guaranteed
- Date: 2007-04-14 - Word Count: 486
Share This!
It's a fact - a simple $1500 investment can make you a real millionaire, in dollars, in less than 20 years. Of course, this won't happen over night, or over one year, but it will happen in less that 20 years, if you have the discipline needed.
It really is a simple process, and all it takes is:
1. A paycheck, or any other kind of steady income. Most people have that.
2. Discipline. This is where most people fail. In order for this plan to work, you need to make monthly deposits into your "millionaire fund". Many people will fail to make that commitment and stick with it. If you are ready to do it, your future as a millionaire is secured!
Are you ready for this simple plan?
Here's how to do it:
Step 1 : you need to find $1500/month to deposit into a special fund.
How do you get those extra $1500/month? You can take a second job, start a small business online or off, give up a few magazine subscriptions, work over time...whatever way you can find - you should be able to come up with $1500/month that you can save. Of course, you can start with less (maybe $1000/month), but this will slow things down.
Step 2: After you got those $1500/month, invest them with a conservative mutual fund that gives you a %10 yearly growth, on average.
Step 3: Repeat this process, EVERY month. Almost every month, a new "good" reason will arise, requiring you to give up the $1500 for another cause. This could be an unexpected bill, a vacation, a new appliance you "need" to buy. Don't be tempted. Keep depositing $1500 a month into your fund! This is the only way to make it to the millions. If you start skipping monthly deposits, your growth will suffer, and you will take years longer to get there.
OK, let's take a look at the yearly growth of $1500/month deposited into a %10 yearly growth fund:
End of year 1: 19,005
End of year 2: 40,000
End of year 3: 63,195
End of year 4: 88,817
End of year 5: 117,123
End of year 6: 148,393
End of year 7: 182,937
End of year 8: 221,098
End of year 9: 263,256
End of year 10: 309,828
End of year 11: 361,276
End of year 12: 418,112
End of year 13: 480,899
End of year 14: 550,261
End of year 15: 626,886
End of year 16: 711,535
End of year 17: 805,047
End of year 18: 908,351
End of year 19: 1,022,473
See? Over 2 million dollars in less that 20 years!
Of course, if you keep depositing for 30 or 40 years, the amounts will be much higher:
After 30 years: $3,418,987.99 (!)
After 40 years: $9,565,170.37 (!!!)
Building wealth is not rally hard. All you need is a paycheck and a commitment. If you start today, imagine where you'll be in 20 years!
Remember - the older you get, the more important money becomes (imagine being old AND broke...NOT a good thing).
Start early - and you will enjoy the rewards when the time is right.
It really is a simple process, and all it takes is:
1. A paycheck, or any other kind of steady income. Most people have that.
2. Discipline. This is where most people fail. In order for this plan to work, you need to make monthly deposits into your "millionaire fund". Many people will fail to make that commitment and stick with it. If you are ready to do it, your future as a millionaire is secured!
Are you ready for this simple plan?
Here's how to do it:
Step 1 : you need to find $1500/month to deposit into a special fund.
How do you get those extra $1500/month? You can take a second job, start a small business online or off, give up a few magazine subscriptions, work over time...whatever way you can find - you should be able to come up with $1500/month that you can save. Of course, you can start with less (maybe $1000/month), but this will slow things down.
Step 2: After you got those $1500/month, invest them with a conservative mutual fund that gives you a %10 yearly growth, on average.
Step 3: Repeat this process, EVERY month. Almost every month, a new "good" reason will arise, requiring you to give up the $1500 for another cause. This could be an unexpected bill, a vacation, a new appliance you "need" to buy. Don't be tempted. Keep depositing $1500 a month into your fund! This is the only way to make it to the millions. If you start skipping monthly deposits, your growth will suffer, and you will take years longer to get there.
OK, let's take a look at the yearly growth of $1500/month deposited into a %10 yearly growth fund:
End of year 1: 19,005
End of year 2: 40,000
End of year 3: 63,195
End of year 4: 88,817
End of year 5: 117,123
End of year 6: 148,393
End of year 7: 182,937
End of year 8: 221,098
End of year 9: 263,256
End of year 10: 309,828
End of year 11: 361,276
End of year 12: 418,112
End of year 13: 480,899
End of year 14: 550,261
End of year 15: 626,886
End of year 16: 711,535
End of year 17: 805,047
End of year 18: 908,351
End of year 19: 1,022,473
See? Over 2 million dollars in less that 20 years!
Of course, if you keep depositing for 30 or 40 years, the amounts will be much higher:
After 30 years: $3,418,987.99 (!)
After 40 years: $9,565,170.37 (!!!)
Building wealth is not rally hard. All you need is a paycheck and a commitment. If you start today, imagine where you'll be in 20 years!
Remember - the older you get, the more important money becomes (imagine being old AND broke...NOT a good thing).
Start early - and you will enjoy the rewards when the time is right.
Visit http://www.wedding-planning-101.info from Jane Ling, For more wedding planner tips, wedding vows and other information Your Article Search Directory : Find in Articles
Recent articles in this category:
- Offshore it Consulting Services India
Cost effectiveness of productions offers a cutting edge in this age of stiff competition. Lower is - Geeks Who?
Geeks are characterized by the tools they use. What all one should have to qualify to be called gee - Now Wi-fi (vi-fi) in Vehicles
This is a Wi-Fi age. Those who need can find Wi-Fi hotspots everywhere; in home, hotels, airport lo - How Web Development Can Catalyze Your Profit Prospective?
Website is the heart and soul of an online business. It depicts the appearance of your products, se - Free Cisco Ccna, Ccnp, Ccent Tutorial on Switching, Spanning-tree Protocol (stp)
A Layer 2 switch, which functions as a transparent bridge, offers no additional links for redundanc - Windows Vista Sidebar, Gadgets, Easy Wireless Networking and Improved Back Features
Microsoft has tried to put "active" items on the Windows desktop for nearly a decade. Finally, with - Windows Vista Features and Upgrading the Windows Vista Versions
Microsoft Windows Vista is the latest workstation version of the Windows operating system and is de - Comptia A+, Network+ Certification Tutorial - Function of Network Hubs
A hub is a device used to connect all of the computers on a star or ring network. A hub is nothing - Tips for Unlock Iphone 3G
Anybody who owns an iPhone wants to have it unlocked and they need unlock iPhone 3G tips, in genera - Unlock Iphone Tutorial
Most of the people consider that it is difficult to unlock iPhone, but in fact, this process is eas
Most viewed articles in this category:
- It Consulting - Buyer Fraud Prevention
Hiring the wrong computer consultant is not only frustrating, but it can also leave you cheated of y - San Francisco Web Design and Web Development Services
A San Francisco Web Development and Web Design Services, #10 offers a full range of marketing and we - Complex Issues, Comprehensive Solutions by Freelance Providers
As business increases, customers are most certainly asking for their share of higher business value, - Gaming and Graphic Design Computer Monitor Solutions
CRT screens are fast moving towards obsolescence and are now almost the preserve of Graphic designer - Help Wanted - One New Customer for Growing IT Business
Your computer services business is the same, you need customers. But do you need as many as you thin - What Does it Take to be a Top IT Manager Today
Well-Run Concepts has been conducting research on how we can quantify what personal skills or compet - What Are Hosted Applications?
As access to the Internet becomes more widespread with faster, more reliable and 'always on' connect - Password Security
In the past I've never really paid much attention to security issues when it comes to user names and - General Computer Maintenance For The Masses
Reorganizing the file systemGo to “Start” > “Run” > Type in “def - How Does Human Resource Management in the Workspace Effect Me?
How often do you find yourself saying: "I wish I knew how to learn more about this topic" Well, w