How to Retire A Millionaire
We all dream about becoming a millionaire. We all want to strive to get there, but what does it take, REALLY take to get there? This is how to retire a millionaire just by adding to your investment accounts.
I found a sweet table from business insider that has some benchmark ages and their respective daily, monthly, and yearly inputs to have that million dollar account. You’ll notice starting around age 20 the amount is incredible small – $61/month! But by age 45 you’d need to stash away $1,157/month for the same amount! And by age 55 its inflated to $4,749 – which is more than the median income for a family in the united states.
For retirement it’s incredibly important to start as early as you can. Yes that means right this freaking second if you haven’t yet!I hope this chart makes it clear just how important time is to have a fat retirement account. Start putting some money away right now and you can easily retire a millionaire! I mean you’re gonna retire some day, it’s either going to be really unpleasant (if you didn’t prepare) or it’s going to be kick ass! You pick!
Make sure you visit the whole article to read some great information! But in case your are curious I posted the table here:
It doesn’t take money to make money — just start early and make smart decisions.
For an easy way to save/invest money that you’ll never miss I highly suggest the app ACORNS they automatically invest by rounding up the nearest dollar on purchases. Chances are you’ll add up a huge investment account super fast (when combined with your retirement accounts) and have a bad ass retirement!
Also, for diversification i’d highly recommend Digit. They take out a couple dollars every few days and stick it into a savings account for you. They don’t charge any fees and their accounts have .20% apy so it’s like a high yield savings account and again, it’s money you’ll never miss but you’ll be thankful for down the road! You can read my digit review here.
Both are totally free to join, ACORNS I think charges a very low fee in profits and digit is 100% free.
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