How To Become A Millionaire
| Money : Money Management It's much simpler than you think: if you save around 10% of your take-home pay each month, every month, for the duration of your working life, then you should end up with a million. In the book the Automatic Millionaire, we hear of an ordinary American couple who have a joint income around $55,000 a year. Yet despite that their total assets of savings and so on at retirement is about $2m - or just over a ?1m. How does it work? It's easy - the bit by bit approach allows the joys of compound interest to take over. ?1000 growing at 10% for 40 years becomes a quite nice ?45,259!!!
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