You Can Become A Millionaire In 10 Years By Investing This Much
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- čas přidán 28. 12. 2022
- So you want to become a millionaire in 10 years. How much do you need to invest every month in order to achieve this goal? The answer is of course that it depends. However, we can run some calculations based on the past performance of the stock market to see how much you would have needed to invest over the past 10 years in order to be a millionaire today. The results will surely shock you because it's actually VERY attainable for a lot of people, possibly including yourself. This is not a perfect example because past results do not mean future results will be the same, but we can use this as a general guideline for developing our plan.
By the way, If you want to reach 1 million dollars then you need to know how to properly invest first:
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If you want to reach 1 million dollars, then you need to know how to properly invest first:
czcams.com/video/UrifLVQIihw/video.html
Good video
Thank you!
I'm 100% in stocks right now, hopefully that workout!
In the long run I think most certainly. We have no idea what will be the best!
The last ten years experienced a sharp recovery coming out of The Great Recession. This led to a great deal of growth for this period.😀
Certainly!
Right and that is part of the issue from the start!!!! The previous 10 years were not like the next 10 so they financial people are not doing us a favor to assume the next 10 will be similar....
Millionaire status is one way to put it but really what is important for me would be comfort, not luxury but simple comfort + I dont want to die a brokey. The only way to achieve that is to aim for millionaire status.
Hi! I just came across your channel, watched a couple of your videos and I'd say, I really need to learn proper. If by any chance you see this comment and I'd be lucky enough to get a response, How would you recommend I start? Especially since most of these are american. I'm not American and i dont live in america, would it be the same brokers? Or are the rules different in Europe?
Thank you Kindly.
I don't think so! You can live in simple comfort well before millionaire status! I believe it stars with having strong financial security and finding flexible work that you love doing!
It might be different brokers, although there are some U.S. brokers that operate in Europe I think. Do some research on that, but you can for sure invest in very similar funds! I would start with the book "The Simple Path To Wealth" ;)
@@OnCashFlow I truly appreciate your response, truly! Please by "having strong financial security" what would that best mean? I'm a layman.
I'm a student, I have sidework I'm doing alongside studies.
I will do a research onto these US brokers that operate in Europe, many thanks. Another vital question, if I do find a broker, please what should be my next step accordingly to avoid mistakes. If you have done a video on that, can you please attach the link 🥺🙏🏽
I want to be very intentional going forward, I need all the help I can get.
Thank you so much again.
@@baba-voss8018 "strong financial security" is a broad statement usually referring to a low/no amount of consumer debt, having a fully funded emergency fund, and having a good amount of invested assets.
My videos are U.S. based but the principles stay the same! I think my complete guide to investing is a good start:
czcams.com/video/UrifLVQIihw/video.html
Yes, millionaire status is a part of our goal.
It is becoming more and more necessary to have millionaire status for retirement/FI. Soon it wouldn't even be a thought because of the cumulative effect of inflation over time.
Good disclaimer at the end about how past performance does not predict future results. Using only the past 10 years of US market data is not a very conservative way to estimate portfolio growth. For example, when using a comprehensive dataset of developed markets over a long timeframe, the commonly cited 4% withdrawal rule (which was based on US data only) does not hold up. Ben Felix’s latest video is a good summary of this topic: czcams.com/video/1FwgCRIS0Wg/video.html
That guy is pretty smart!
I have $135k in ETF VOO. How much should I save per month to reach $500k in 10 years?
1600
Depends on a lot of things, try messing around with a compound interest calculator:
www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator
What if 90/10 ? How much can you save
around 1M based on past data! :)
Millionaire status is not important to me because I don't plan to retire in the US or an equal or more expensive country.
True, it can require a LOT less elsewhere!
I'm just gonna buy gold and silver. When it all collapses I'll buy city blocks for ounces.
Okay I wish you the best!