BECOME
A
MILLIONAIRE
8 PROVEN WAYS THAT EVERYDAY PEOPLE BECOME MILLIONAIRES
401K MATCHING
This year Fidelity reports more 401K millionaires than ever before. Taking complete advantage of any employer matching is one of the easiest ways to become a millionaire.
Roth IRA
MAX OUT A
ROTH IRA
Roth IRAs grow tax free. So you pay income tax today on your investment, but you never pay taxes on the growth. In 30 years, a Roth IRA will be over 80% growth that will never be taxed
INVEST IN
INDEX
FUNDS
Investing is key. But IRAs and 401Ks lock you down until you're 59 1/2. So make sure you invest some in a regular brokerage account. Index funds are simple and outperform most managed funds.
SAVE FOR
THINGS
YOU
WANT
Getting carried away impressing friends, family, and neighbors leaves too many people broke. Save up and spend money on the things you actually care about and you'll actually enjoy your wealth.
SEE WHERE
YOU
SPEND
Look at your bank statement. What did you buy over the last 90 days. Which of those purchases actually mattered to you? Use these insights to only spend on things you care about.
Invest 10-15% of your take-home pay in long-term savings. This practice will likely make you a millionaire if you start early enough even if you never earn a huge salary.
SAVE MONTH
every
SEPARATE
SHORT
Always keep any money you plan to spend before retirement separate from long-term investing. You don't ever want to be tempted to spend retirement money until you retire.