Saving to Become a Millionaire
03. Feb, 2010 
5 Comments
As children we all of dreams of becoming a millionaire, no a billionaire, but as we get older, we seemingly forget the dream and slip into a routine in which we just get by in life.
Many will find themselves hit with the harsh reality that earning such an amount of money is not that easy, the dream job we wanted as kids to earn the amount of money did not pan out for us, but this does not mean at all that we should give up on out childhood dream.
The easiest way to earn a million dollars, despite what many might think, is to simply save.
You have to realize when I say that saving is the best way to earn a million dollars, but you have to remember that this will not happen overnight.
Saving a million dollars will require much of your life to get it done, no matter what type of savings account you have or interest rate you are given.
To help make saving easier you should go through your spending habits and run through what you can cut back on, and in turn put away in your savings account. You can also take an initiative to automatically place money into your savings account, which will only help make saving even easier as you will not have to worry about moving the money into the account yourself, hence allowing you to barely notice the amount of money gone from your account.
If you have already set up a budget for yourself, consider taking the excess money that that you do not spend within your budget to place into the savings account.
You have to start saving at an early age, which will allow you to begin spending your money earlier once you become a millionaire.
Now there are always other options to becoming a millionaire, the one that is sought out by most involves the lottery, but that is something that you will find at an early age is next to impossible,
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Matt Goulart
The truth is that savings is the first step to financial freedom, but you need also to invest your savings for better results. Right?
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Irteza Reply:
March 21st, 2010 at 8:10 am
absoultely right. You have to allocate your savings in different productive investment plans based on your appetite of risk. Mere savings will not give any results.
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It’s the easiest thing in the world, yet we tend to over complicate it a lot. Much like day traders versus those who invest in index funds. Key ingredient = patience.
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Well, I don’t know. If you gave me 1,000,000% interest compounded daily, I could be a millionaire overnight…with just $1!
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Matt Goulart Reply:
February 27th, 2010 at 4:40 pm
I would love to see someone give 1,000,000% interest compound. If you find someone please tell me!
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