105) Invest Regularly To Be A Millionaire
Have you wondered how much and how long to invest to be a millionaire?
If you do not have a large amount now, you can invest regularly over a long period.
Below is a graph to show the different amounts needed from different starting age until age 60..
For example: John, a 40 years old man, wants to be a millionaire by age 60. He expects his investment gives compounded return of 7% yearly. How much he should invest yearly?
Future Value: $1,000,000
Periods: 20 years (60yo - 40yo)
Annual Rate: 7%
Payment: $22,797 per year
Using the Financial calculator, John needs to invest $22,797 yearly for the next 20 years.
Let's compare how much you need to invest yearly at 7% annualized return to be a Millionaire when you retire at 60 years old.
The younger you start, the less is the yearly investment amount required.
In conclusion, to be a millionaire when you retire, you need to
start investing as soon as possible.
Time is your friend in growing your money.
Absolutely great sharing sir 👍👍👍
ReplyDeleteGot a wonderful overview about investing and it's benefits.Many people invest in the stock market with aim to gain profit and to become rich quickly. Invest in a right platform so that you can become rich easily and for this you have to do a lot of hard work then you can be a millionaire.
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