How to Become a Millionaire on $20 a Day

Do you think you could become a millionaire if you paid yourself $20 a day? How long would it take you?

If you simply put $20 every day of your life in a piggy bank, it would take you 135 years to save $1 million. Unfortunately, at a 3% inflation rate, by the time you saved that much money it would not be worth very much.

But what if you saved $20 a day and invested it - how long would it take? Considering the stock market returns about 10% a year when invested over the long run, and take compound interest into consideration, your investment would turn those $20 bills into a million dollars in about 25 years. That's quite an improvement.

Of course that is easier said than done. In order to actually accomplish this you would have to actually save $20 a day (or about $600 a month) and then have the discipline to actually invest that money in a diversified fund.

But that's the easy part. How many ways can you decrease your spending to save an extra $20 a day? Think about the amount of money you regularly spend on things you could really do without. Sure these are the greater things in life that you work hard for and deserve to enjoy, but would you give up enjoying lattes in exchange for having an extra $1 million in your bank account?

If not, then think about the alternative. That is to find ways to increase your income by an extra $20 a day. Discover your talents and skills and figure out a way that you could use those unique qualities to provide a valuable service. Once you find a way to provide value you have an opportunity to bring in a lot more than an extra $20 a day.

Learn the wealth creation strategies of the rich and reach your financial goals. Visit Millionaire Money Habits at http://www.mmhabits.com A free gift will show you how to become a millionaire.

Disclaimer
Contact Us
Index
Monday
Work Related Stress
Bob Geldof and The Boomtown Rats
Idlm
Google
Stress
Tell me why I don't like Monday
Terms Conditions
Privacy Policy
Disclaimer
Contact Us
Index
Monday
Work Related Stress
Bob Geldof and The Boomtown Rats
Idlm
Google