It's not just a game show, but a reality for some Americans! Ok lets slow down here...lets face it...you probably won't have the annual salary of a Millionaire. However, what you can do is save a Million dollars for RETIREMENT! Retiring with a Million dollars combined in your various retirement accounts (401K, HSA or IRA, etc...) is actually a reasonable and achievable goal! There are a few keys to making this successful for you.
The Power of Compounding!
Here's how you do it: START EARLY! The earlier you start saving for retirement, the more years you have for your savings to compound over time. The chart below shows the potential future value of an account which is contributed to consistently for 30 years. The first row represents the Investment Contribution per Year. The first column represents the average growth rate of the account. Using the chart below, an individual who maxes out their 401K ($18K per year) would only need an average annualized gain of 4% to become a millionaire at retirement!
Familiar with the Apple News app? Not only are you able to access newspapers like The New York Times, Wall Street Journal, and others through the Apple News app, but you can also access blogs like the Share Repurchase blog! This tutorial video provides the step-by-step process to create a New iCloud account, separate from your personal account if you choose (or are an Android user), and add your Blog as an RSS feed to Apple News Publisher.
Akeem The Dream
I enjoy discussing and learning about technology, stocks, sports, and beating my wife at Dominoes! As I learn, I love to share with family and friends so that we can share our knowledge. Thanks for being apart of the journey!