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ispf · 03-18-2007, 06:37 PM

How much time do you have? Anybody can be a millionaire if they have enough time and a little bit of discipline. For example, if you put away just $200 per month in a long-term account (eg. 401K, IRA etc) and earn 10% interest on average, you can be a millionaire in about 38 years. i.e., you can retire to a good life by just putting away a little bit of money every month.

If you are young, no matter what your plan A is, you should always use the power of compounding as your plan B! What have you got to lose?

(If you want to play with the numbers, check out this bankrate calculator)

03-18-2007, 06:37 PM	#41 (permalink)
ispf Junior Member Join Date: Feb 2007 Posts: 8	How much time do you have? How much time do you have? Anybody can be a millionaire if they have enough time and a little bit of discipline. For example, if you put away just $200 per month in a long-term account (eg. 401K, IRA etc) and earn 10% interest on average, you can be a millionaire in about 38 years. i.e., you can retire to a good life by just putting away a little bit of money every month. If you are young, no matter what your plan A is, you should always use the power of compounding as your plan B! What have you got to lose? (If you want to play with the numbers, check out this bankrate calculator)