Becoming A Millionaire

BECOMING A MILLIONAIRE - BE FIT FINANCIALLY It may surprise you how quickly you can accumulate a million dollars. Here are two examples of what you would have to set aside each year to reach the goal of million dollars and be a millionaire! One example is for a 35 year old who wants to be a millionaire by age 60 and the second is for a 50 year old who wants to be a millionaire by age 65. 35 year old Millionaire at age 60 A 35 year old who wants to be a millionaire by age 60 and currently has a nest egg of $25,000. Lets say you have a before tax return earnings of 8% annually and are in a federal marginal tax bracket of 25% and state marginal tax bracket of 5% and assume a 3% inflation rat

5 Simple Steps to Retirement Planning Success

Develop a Workout Plan Retirement planning is full of uncertainties. The biggest question I get is, "Am I doing enough?" That's when you need to do the math and decide what are your priorities. Perhaps you have some catching up to do or you may be on track. You can develop a workout plan to get the facts and help you succeed. Make a plan and commit to it, after all it's your money and your future. Strengthen and bulk up your savings Save more, at least 10% of your income. Ever hear of the theory of paying yourself first? Make it an automatic habit to pull out 10% for savings and investments for retirement, before you pay any other bills. This 10% can include your 401(k), 403(b), 457

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