Here’s How Much You Need to Save Each Day to Become A Millionaire
Most of us spend long hours every week working hard toward a retirement that seems further out of reach by the year. With so many of our goals being labeled impossible, it’s important to note that among the supposedly futile goals we set and forget, some of them are actually within our grasp.
Retiring a millionaire has been an aspiration of nearly every kid who ever sat down around the board and played the Game of Life. At the end of the game, you either went to live in a cozy little cottage at Countryside Acres, or go to the grand Millionaire Estates. For some people, the cozy cottage embodies the ideal retirement, but for most of us, it was Millionaire Estates or nothing.
Real life has not shown itself to be much different, except that achieving the goal of becoming a millionaire has proven much more difficult than it ever was in the game. As a result, people give up on that particular dream all the time.
Far too many people miss the fact retiring a millionaire is entirely attainable. You don’t even need to have a few hundred thousand already sitting in your investment portfolio. Starting from scratch, you can hit that mythical seven-figure savings account by age 65.
The process becomes much easier the earlier you start, but even later in the game, you can manage it if you’ve got the dedication. Just invest a little bit each day. How much you will need to invest depends on your age and how much you’ve already stashed away, since compound interest becomes your best friend in this venture. With countless investment resources available locally and online these days, the excuses for not starting today run awfully thin.
To find out how much you’ll need to invest each day to reach your own Millionaire Estates, just take a look at this infographic.