A site to discuss all things Money! How to get money. How to get out of debt. How to settle with your creditors for pennies on the dollar. How to create and live on a budget. How to invest and plan for the future. How to save your money. How to give your money.
Tuesday, May 17, 2011
For Recent Grads and 20 Somethings
Have dreams of becoming a millionaire? It doesn't have to be a dream. The average person making $40,000 a year can do it. Put $5000 per year for 10 years into a good growth stock mutual fund that averages at least 12% and in 30 years, you will have a million dollars. For alot of you graduates, that means you will become a millionaire in your early 50's. I wish someone had told me this when I was 20 so now I have to wait till I'm 65 to be a millionaire. But that's ok. I still won't have to rely on social insecurity to live on the last 30 years of my life. Stay out of debt, contribute regulary to your 401k or Roth IRA, give, and you will be on the road to financial success.
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