Do you want to have money 1 million dollar, if you say yes, then you must start to plan your financial budget. Money 1 million dollar is not impossible if you believe it. For you who already have had an income, start to invest at least 10% of your net income each month. You do not ever "bother" that investment until the end of investment time. The more quickly you make the investment then the less money (funds) that you are required each month. It will benefit you because the more needs (target) that you can plan. For example, you want to invest your income each month to fund children's education. You have a child and you plan to send him or her to school to abroad. At the time your child age will be 18 years. Your estimate that the cost is needed to complete the course is 100 thousand dollar. Suppose, you deposit your money to get of 100 thousand dollar, the interest rate of bank deposits is 6% each year (this is assumption and not including taxes); it is illustrated below: Illustration above is only an example of investment planning. You can make the investment for other purposes (according to the title, essentially you get 1 million dollar). Your funds can be invested in various types of investments such as mutual funds, stocks, gold, land, houses and so on. You can do it so the result that you get can be greater and the time that you need to produce a target become faster. The most important is that you must invest your funds (any type of investment) according to your planning.
Age Child Time for Save Savings each Month 3 years 15 years US$ 374 8 years 10 years US$ 644 15 years 5 years US$ 1470
2 comments
Good inspiration friend. It's not easy to keep savings but i must try and i hope i can get good result.
Who don't want a million dollar? I guess that is why everyone dying for and working so hard each day. Saving a portion (10%) is a good idea, but after paying the bills, it is hardly to find 10% to save up.
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