Easiest Way to Become a Millionaire
What would you do if you were a millionaire? Would you travel more, spend more time with your family, or would you like to use your money to help others.
It's not worth dreaming about because it's not that easy to become a millionaire, right? Wrong!
Do you want to know the secret to the easiest way to become a millionaire? Chances are you already know but haven't realized just how easy it really is.
Just about anyone can become a millionaire without even trying. If all you did was max out your 401k every year for the next 20 years, you will have $1 million, based on a 10% rate of return. That's without even considering company matches to your contributions.
Imagine, a 30-year-old just by investing in their company's 401k plan can have a million dollars by they time they reach 50-years-old.
If that same person started made those contributions when they got out of college, let's say age 22, and continued to make those contributions until age 65, guess how much money they would have accumulated in their retirement fund? Over $9.5 million, and again that is when not even considering employee matches.
As you can see, just by participating in mindless, automated investing programs like your 401k, you can become a multi-millionaire without even really trying.
But there's another lesson here. The secret to investing is not so much buying the right stock at the right time or by a stroke of great luck. The example above is how much you can make just by investing in average returns. The key difference between one million dollars and 10 million dollars is time.
The sooner you start investing, the amount you make is compounded. The difference in just a couple years can make such a huge impact in the amount of money you can have sitting in your bank account during retirement.
Get started on building the life that you want to enjoy and take advantage of the easiest way to become a millionaire.
Related Tags: making money, investing, 401k, wealth management, building wealth, how to invest, becoming rich
Learn more about wealth investing from Ryan Taylor by visiting Millionaire Money Habits at http://www.mmhabits.com. A free gift to make your rich is waiting for you.
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