It has been a while since I talked about the original mission of Generation Millionaire. To teach and encourage you to use the time you have to make your retirement more secure. So what is one of the pieces of the puzzle?
"Time + Regular Investing" into a diversified portfolio = Long term success. The sooner you start investing in a 401k or IRA the more $$ you have for retirement. If you invest $60 a week starting at age 18 for 50 years with an 8% return = $1.9 Million. If you invest $60 a week starting at age 25 for 42 years with an 8% return = $1 Million. By waiting 7 years to invest a mere $60 a week - you give up almost one million dollars.
Where am I going to get $60 a week or $8.50 a day ?? It is so easy with simple changes you won"t notice in the long run.....Pack your lunch instead of eating out - Go to the library for movies, cds, books and games - Plan your route to avoid extra driving - Go to a matinee, Drink water vs ordering soda, coffee, tea etc. Buy used books for classes, Don't use your charge card.
Little changes that will not affect your quality of life TODAY will pay off big TOMORROW. This information can change your entire generation - WILL YOU BE A MILLIONAIRE? Save any amount you can - less is better than none.
I challenge you to write down every time you spend a penny - you will be amazed at the way money trickles out of our wallets. Always check with a financial expert prior to making any investment decisions. Play with the financial calculator under the calculator link tab at the top of the page.
Stay tuned.......
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