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I hear it often, "I want to become a Millionaire."
Many want to become Millionaires, and to be honest, the majority of Millionaires did it on their own with little to no help or inheritance
Let's look at how you can get on track
"Becoming a Millionaire"
THREAD
Many want to become Millionaires, and to be honest, the majority of Millionaires did it on their own with little to no help or inheritance
Let's look at how you can get on track
"Becoming a Millionaire"
THREAD
1/
Start by investing 10% of your income each month
Make this a habit & increase the percentage over time
Getting in the habit of investing & understanding the ways to build Long-Term wealth are important
One of the best investing strategies is to learn the art of "Patience"
Start by investing 10% of your income each month
Make this a habit & increase the percentage over time
Getting in the habit of investing & understanding the ways to build Long-Term wealth are important
One of the best investing strategies is to learn the art of "Patience"
2/
This means if you bring in $3K per month, invest $300/mo
If you make 10K per month, invest $1K/mo
This means if you bring in $3K per month, invest $300/mo
If you make 10K per month, invest $1K/mo
3/
Starting at a young age is also EXTREMELY beneficial because it allows for compounding to really take shape
However, this does not go to say starting late and you are out of luck
Starting at a young age is also EXTREMELY beneficial because it allows for compounding to really take shape
However, this does not go to say starting late and you are out of luck
4/
Start slow & build over time
Begin with the $300/mo for 5 years
$500mo Yrs 6-10
$600mo Yrs 11-15
$700mo Yrs 16-20
$800mo Yrs 21-25
$1000mo Yrs 26-30
Combine that with roughly a 10% annual return which has been the average of the S&P 500
You end with $1,065,730
Start slow & build over time
Begin with the $300/mo for 5 years
$500mo Yrs 6-10
$600mo Yrs 11-15
$700mo Yrs 16-20
$800mo Yrs 21-25
$1000mo Yrs 26-30
Combine that with roughly a 10% annual return which has been the average of the S&P 500
You end with $1,065,730
5/
Your annual return will most likely fluctuate, some years you may see 15%+ growth and some years you may be even, but for decades now the average return comes in around 9-10%
No matter how the market fluctuates, the key is to remain PATIENT
Your annual return will most likely fluctuate, some years you may see 15%+ growth and some years you may be even, but for decades now the average return comes in around 9-10%
No matter how the market fluctuates, the key is to remain PATIENT
6/
Depending on your level of knowledge, you could build a strategy around ETFs and Index Funds, or you can mix in some Individual Stocks, which add more risk but also higher reward
Depending on your level of knowledge, you could build a strategy around ETFs and Index Funds, or you can mix in some Individual Stocks, which add more risk but also higher reward
7/
ETFs that track the S&P 500 include:
$VOO
$SPY
$IVV
These ETFs hold the same stocks as the S&P 500
$AAPL
$AMZN
$FB
$GOOGL
$MSFT
$TSLA
$HD
$V
$JNJ
$ABBV
$O
An S&P 500 ETF or Index Fund instantly diversifies your portfolio
ETFs that track the S&P 500 include:
$VOO
$SPY
$IVV
These ETFs hold the same stocks as the S&P 500
$AAPL
$AMZN
$FB
$GOOGL
$MSFT
$TSLA
$HD
$V
$JNJ
$ABBV
$O
An S&P 500 ETF or Index Fund instantly diversifies your portfolio
8/
Learn more about how you can utilize ETFs and Dividend Stocks, through the Power of Compounding Dividends, to catapult you into Millionaire status
Grab a copy of my book on Dividend Investing where I explain it all in an easy to read format https://gum.co/zoUNO
Learn more about how you can utilize ETFs and Dividend Stocks, through the Power of Compounding Dividends, to catapult you into Millionaire status
Grab a copy of my book on Dividend Investing where I explain it all in an easy to read format https://gum.co/zoUNO
