What is the fastest way to make a million dollars?
What is the fastest way to make a million dollars?
MP4 | Video: AVC 1280x720 | Audio: AAC 44KHz 2ch | Duration: 1 Hours | Lec: 18 | 117 MB
Genre: eLearning | Language: English
MP4 | Video: AVC 1280x720 | Audio: AAC 44KHz 2ch | Duration: 1 Hours | Lec: 18 | 117 MB
Genre: eLearning | Language: English
Learn about the 8 real life strategies that worked.
If you invest $400 a month and make 7% annually, this investment return calculator says you’ll have a little over $1 million in 40 years.
Let’s say you’re 30 years old and you give up movies, Starbucks and dinners out for four decades to save that $400 each month. At age 70, you’ll have a million bucks and be ready to retire, right?
But wait! An inflation calculator shows that $1 million today has the spending power of about $229,207 in 1975 dollars. If we experience similar inflation in the next 40 years, your future million will also be worth just $229,207 in today’s dollars.
Then, if you keep making 7% annually, it will provide an income of… $1,337 per month (measured in today’s dollars). So you’ll be a millionaire, but it won’t be quite like you imagine.
Of course you’ll probably have some other income from social security or a pension, and $1,337 is a nice addition to other monthly income.
But what if you don’t want to wait 40 years to make your first million? What if you don’t want to wait even 10 years? Here’s how to make a million dollars quickly — with a little luck.
What is the fastest way to make a million dollars?
