What It Takes To Become A Millionaire
PFBlog is about an I-want-to-be-a-millionaire journey, and if you want to start a similar journey, take a look at this quick article of What It Takes To Become A Millionaire from Darren Woodard.
In a nutshell, Darren discussed three things:
First, it takes a saver's mentality to become a millionaire, and the early you start, the more likely you will realize your dream.
Second, one million dollars is not much, but should lead to a comfy retirement (again, for a "saver").
Third, compounding is what takes saving to the million-dollar cashpile, and for this purpose, a properly diversified portfolio usually works better than performance chasing.
One year into my journey, I feel pretty much the same: saving and proper investment decisions are the two pillars of wealth building. While the million-dollar-mark is a thing of subjectivity, which might or might not lead to a comfortable retirement in another's standard, having a goal is better than without one. For a math-loving mind like me, it is more than inspirational.
Are you saving enough? To answer this question, you might need a detailed analysis to compare your future income with your future lifestyle, but it does not hurt to compare your saving speed with your peers. According to a newly released AXA Financial Services research ... Read
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Want to start your quest toward early retirement but don't know where to start? One way is to avoid the common mistakes. Take a look at these seven popular misconceptions identified by Jonathan Clements in his WSJ column. Read
Michael Estrin from AskMen.com and Liz Pulliam Weston from MSN Money wrote two articles of the same topic: where used items deliver more value than brand new ones. What makes to the list: - DVDs/CDs/Games - Books - Sporting Goods - Jewelry - Toys ... Read
