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Tuesday, September 27, 2011

How to make $1,000,000 with $300 a Month

This one is for my younger readers ages 18 – 45, and perhaps a few parents who may wish to forward this to their children.  But it also has worked for retired people who started this program when they retired. They have such a nice nest-egg to leave as an inheritance for family.  They have lived well in retirement, not laviously but well.  This always works. 

Here it is: 

Start saving $300 per month as soon as you have a job where your employer will match your savings into a tax deferred retirement fund with at least 66% of your dollar amount, so you have a total $500 per month going into savings.  You can do this, $300 is just not that tough.  If self employed save $500 per month of your own income.  If you are retiring it will take about $450 per month.  You'll never notice it's gone, and it will just keep growing. 

So $500 per month for 30 years at an average of 10% growth rate per year, which a good financial consultant should make you. 

Result: if you start at 18 years old, you end up with $1,130,000 saved by the time you are 48 years old.  You are a millionaire and can retire early if you wish.  So start saving as soon as you can and leave the money alone for your retirement nest egg. Inflation-proof the fund by withdrawing only 4% per year which allows it continued growth.   

If you are retired you will leave a million for whoever you so choose.  What a great surprise for the kids and grandkids. 

The rest of the story makes it even much more appealing.  Sign up for our Safe Retirement Freedom Blog for more secrets to early and secure retirement.  Look in the box to the left of this post to join our group.  

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