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matthews_world
Joined: 15 Feb 2003
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 Posted: Sun Apr 25, 2004 6:28 pm Post subject: When would you become a millionaire? |
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I saw this link over of the Job Forum and decided to post it.
It helps you calculate how much you need to budget and save to reach a certain financial goal.
http://moneycentral.msn.com/Investor/calcs/n_savapp/main.asp
So if I were to put away $10,000 a year at 10% interest it would take me 26 years to save a million.
Possibly less time if I get married and she works or has rich parents. 
I do hope I receive inheritance or invest in real estate or the stock market to help me out with my goals.
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kangnamdragon
Joined: 17 Jan 2003
Location: Kangnam, Seoul, Korea
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| Posted: Sun Apr 25, 2004 6:48 pm Post subject: |
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| Thanks, but got good ideas on where to get a 10% interest rate? |
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royjones
Joined: 26 Mar 2004
Location: post count: 512
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| Posted: Sun Apr 25, 2004 7:58 pm Post subject: |
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| ya.. sign me up too.. lol.. 10% would be a deal.. |
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shawner88
Joined: 01 Feb 2003
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| Posted: Mon Apr 26, 2004 1:27 am Post subject: |
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| If I had a million dollars itwould take less than 2 years to make another million buying and selling apartments. That what sucks about life. It takes money to make money. |
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Howard Roark
Joined: 02 Feb 2003
Location: Canada
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| Posted: Mon Apr 26, 2004 3:40 am Post subject: |
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| In Korea we're all millionaires. I make about 2.5 million a month! |
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Mankind
Joined: 18 Jan 2003
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| Posted: Mon Apr 26, 2004 4:21 am Post subject: |
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| kangnamdragon wrote: |
| Thanks, but got good ideas on where to get a 10% interest rate? |
N.A. stocks. Just dump your money into a straight index fund. N.A. markets have averaged just over 10% a year since inception. Over 26 years you could expect that as an average return.
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baldrick
Joined: 03 Feb 2004
Location: Location, Location
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| Posted: Mon Apr 26, 2004 4:23 am Post subject: |
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| I will become a millionarie when I choose the correct six numbers on the lottery. No sooner, and no later. |
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matthews_world
Joined: 15 Feb 2003
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| Posted: Mon Apr 26, 2004 4:33 pm Post subject: |
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Buying the right property at the right time seems to give Koreans the upper hand. There are many instances of my Korean students buying property, usually new, in a newly-formed neighborhood and seeing their investment double or even triple.
This is where a Korean spouse would be more advantageous!
I guess there are some good mutual funds out there that over a period of time would bring you that much interest.
IRA funds are the way to go. Supplement that with money-making real estate and your set.
Trump did it. Why can't we?
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