Tips for you Savings Plan Will Help You Become a Millionaire by Age 65

This post has been seen 213 times.

Many people believe the only way to become rich is to be born in a wealthy family or win the lottery. But does it always take money to make money?

To demonstrate the possibility of creating wealth, Bach created a chart showing how much money you need to save each day, month, or year to have $1 million in your bank account by the time you turn 65. The chart assumes you’re starting with zero dollars invested, and it also assumes a 12% annual return

413

Although the numbers in the chart are not exact (for simplicity reasons, it does not take into account the impact of taxes), they give you an idea of how saving a few dollars each day can make a huge difference over time, especially if you start saving money at an early age.

So the next time you decide to spend a couple of bucks on knickknacks, remember this chart and consider redirecting that cash to your savings.

Comments

comments

You might also like More from author

Show Buttons
Hide Buttons