I Want to be a Millionaire 1.2

Sheryle Lengdorfer ❘ Commercial ❘
iOS
out of 5 votes

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There are two things only money can buy—Freedom and Options.

Becoming a millionaire is more attainable than perceived by most, achievable through fundamental mathematical calculations.

<ol>
 <li>If you invest $15,000 to start (you can share this cost with your partner).</li>
 <li>Earn 10% (after-tax) on your investment.</li>
 <li>Leave it invested at 10%.</li>
 <li>Add another $15,000 every year at 10%.</li>
</ol>

You will have $1,056,041 after 21 years.

Additionally:

<ul>
 <li>If you don't invest any more, you can withdraw $105,604 annually without depleting your initial investment.</li>
 <li>You will have put in a total of $315,000 but will have over $1 million in assets.</li>
 <li>If you let that $1,056,041 sit at 10% and don’t contribute more, you will have over $2 million after an additional 7 years. $3 million awaits you just four years beyond that.</li>
</ul>

If you are young, time is your most valuable investment tool. Coupled with the magic of compound interest, you are on track for a prosperous financial future.

If the numbers above don’t suit you, there is a calculator that allows you to input your saving or investment goals and percentage targets. It then gives you a timeline until you reach the millionaire mark—based on your preferences.

The tool also includes a “What-If” feature. You can input year-by-year assumptions and view corresponding results for up to 40 years before emailing the outcome.

To realize your financial and lifestyle aspirations, start with the calculator. Subsequently, increase your financial knowledge on investments or consult an experienced, licensed, and ethical financial advisor.

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