I am watching the US Open Championship and wanting to go back to Scotland. I think about all of the fun I had when I studied abroad and wish I could travel back sometime soon. The problem I have now is lack of time and money. That being said I spoke with a financial planner last week, I am going to meet with him soon to discuss how I can become a millionaire. I look at it this way, I want to work hard but when I stop working I want to have money to travel and do other fun activities.
I started to look into it and found out how I could make it happen. Here is what we discussed: Find a mutual fund through an investment firm with low fees, choose a ROTH IRA and he said that if I start saving $200 a month and increase that amount as I get older that by 65 I should be a millionaire. I figure if I can increase even more maybe I can be a millionaire by 50. He gave me some figures to reach for...by age 35 have about $50,000 saved plus a 401(k). Then by 45 I should have around $150,000 and by 55 ill have $400,000 and by 65 you are a millionaire. Easy as that! Let’s just say I will be looking more into it and doing some research so I can ask questions when I meet with him.
I have also thought about just winning the lottery and making millions…. that’s my alternative plan….ill keep you posted.
If anyone else has any ideas on how to become a millionaire please let me know.
Feel free to save for me as well. I'm the suckiest saver EVER and at this point, I'm trying to decide what kind of shopping cart I'd like for my home. I mean- some have better wheels, you know?
ReplyDeleteI will try to put aside some money for you also...so you can buy a shopping cart cushions
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