It's never too early to start saving in effort to achieve financial security. Unfortunately, for many people the future has a tendency to morph into the present faster than they ever thought possible.
This translates into years of wasted savings-related opportunities.
Don't let the same thing happen to you. Who Wants to Be a Millionaire? Believe it or not, it's probably easier to achieve millionaire status than you think.
According to MarketWatch.com, simply by saving $2,000 per year for seven years, a 15-year-old is capable of becoming a millionaire at the age of 65.
Even more surprising, that same teenager doesn’t have to save another penny after the initial seven-year period, if the money is invested properly.
Amazing, isn't it? Assuming you're older than 15, here's some additional information that may be of interest to you.
It's based on the fact that you start with $10,000 to invest and increase your portfolio by seven percent a year.
Age 25 = approximately $300 per month until retirement age
Age 35 = approximately $775 per month until retirement age
Age 45 = approximately $1,850 per month until retirement age
Age 55 = approximately $5,700 per month until retirement age Looking at the huge difference between each ten-year increment, it's easy to see why you need to start saving for the future as early as you possibly can.
Continue reading to learn more about some of the best ways to start saving money now.
At the end of this report, you'll also be presented with several simple tips to boost your income, in the event you're interested in putting away even more.
Let's get started.
