Tuesday, November 28, 2006

When will you be a millionaire?

It seems that everyone is trying to climb that millionaire ladder of success, that includes me. My goal is to get there by the early 40's. Think its reasonable? I certainly do, heres my plans/situations and what defereniate me from the rest.

  • I am currently in school and will have absolutely no loans after Im done. In fact, I am currently getting paid to go to school.

  • I will have a steady income of 50k+ a year after graduation, which is a nice start.

  • The company that I work for will pay for my masters and in returns will also give me a nice raise.

  • My plans to own my home by the age of 25 will help me by not dumping my money away to pay for rent. The monthly mortage will be going towards my house.

  • I have plans for investing in real estate and expect to own a few houses by mid 30's, where I will be renting out to people for monthly income.

  • I intend on putting away most of my checks in index funds.

  • I have a great start just because I started to save/invest at such an early age.

  • I think long term and have already started planning out my budget for my first home.

These are just some cases and plans I currently have. Here is a site that calculates when your gonna hit your million mark. After putting in my data, my results came out to be 20 years and 6 months. Have fun.

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