'Do you want to be rich?' is an easy question. Most likely you do, unless you believe you're not greedy. In that case, you want to be able to live comfortably without worrying about money. Either way, you have to be rich.
Do you think you can be rich? What does it take to be rich? You can be rich with friends or love, but in this case, let's talk about monetary wealth. How much money do you need to have to be considered rich. There are several deciding factors in this equation.
As a child, if you were ever to receive $50 at once, you probably thought it was a fortune. Now, if you were handed $15,000 you were look at it as a lot of money, and yet that most people with full time job make and spend more than that in a whole year.
Some people will never be able to retire making retirement at age 65 with comfortable living look like riches. Many look at having $1,000,000 as being rich. You might even just look at someone driving around a Mercedes and think they're rich, even if you don't know how much money they really have.
You can be rich, but the degree to how rich you can be depends on your age, how much money you make, and how much you can save. If you are in your 20s and make enough money to put several thousand dollars a year into a retirement account, there is no doubt you could retire by age 65 if not earlier. Saving more money will get their quickly as will having a high return. Put both together and you're savings will be unstoppable.
Your salary and annual savings will have a lot to do with your wealth. In fact, how much money you can put aside from your salary will have everything to do with how much wealth you can accumulate. You could make a million dollars a year, but if you spent it all and didn't save a dime, you would still not be very rich. On the other hand, even if you made only $40,000, if you invested just 10% of it every year, soon you would amass a great amount of wealth and riches.
Unfortunately, many people can't afford to save a dime. You might feel like you could never have any sort of wealth, and you won't if you don't change. You have to find a way to make more money and spend less money. I never said it was easy.
Another factor is what you do with that money. If you save $5,000 a year for 40 years and keep it in a jar on your dresser, you will have $200,000. That's a lot a lot of money, but it doesn't make you wealthy and it's a nothing compared to $1.3 million.
Investing your money will make it grow very large and quickly. If you won't be retiring for more than 20 years, you should invest most of your money in the stock market. This will ensure the greatest return. As you near retirement, you can begin to invest more in bonds to help minimize risk.
Whether or not you believe it, you can become rich. Set goals and make a plan. It might take you years and years, but if you work hard, you can achieve the riches you may have only dreamed of. Don't give up without even trying.
Do you think you can be rich? What does it take to be rich? You can be rich with friends or love, but in this case, let's talk about monetary wealth. How much money do you need to have to be considered rich. There are several deciding factors in this equation.
As a child, if you were ever to receive $50 at once, you probably thought it was a fortune. Now, if you were handed $15,000 you were look at it as a lot of money, and yet that most people with full time job make and spend more than that in a whole year.
Some people will never be able to retire making retirement at age 65 with comfortable living look like riches. Many look at having $1,000,000 as being rich. You might even just look at someone driving around a Mercedes and think they're rich, even if you don't know how much money they really have.
You can be rich, but the degree to how rich you can be depends on your age, how much money you make, and how much you can save. If you are in your 20s and make enough money to put several thousand dollars a year into a retirement account, there is no doubt you could retire by age 65 if not earlier. Saving more money will get their quickly as will having a high return. Put both together and you're savings will be unstoppable.
Your salary and annual savings will have a lot to do with your wealth. In fact, how much money you can put aside from your salary will have everything to do with how much wealth you can accumulate. You could make a million dollars a year, but if you spent it all and didn't save a dime, you would still not be very rich. On the other hand, even if you made only $40,000, if you invested just 10% of it every year, soon you would amass a great amount of wealth and riches.
Unfortunately, many people can't afford to save a dime. You might feel like you could never have any sort of wealth, and you won't if you don't change. You have to find a way to make more money and spend less money. I never said it was easy.
Another factor is what you do with that money. If you save $5,000 a year for 40 years and keep it in a jar on your dresser, you will have $200,000. That's a lot a lot of money, but it doesn't make you wealthy and it's a nothing compared to $1.3 million.
Investing your money will make it grow very large and quickly. If you won't be retiring for more than 20 years, you should invest most of your money in the stock market. This will ensure the greatest return. As you near retirement, you can begin to invest more in bonds to help minimize risk.
Whether or not you believe it, you can become rich. Set goals and make a plan. It might take you years and years, but if you work hard, you can achieve the riches you may have only dreamed of. Don't give up without even trying.
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