How to Become Rich Buffalo NY

How long you are willing to give yourself to achieve that goal directly shapes how much money you must sock away each year to get there. If you have 30 years to stockpile your million—as many people aiming toward retirement do—then you have to come up with only $675 a month or $8,100 a year.

Niagara Small Business Development Center
(716) 434-3815
50 Main Street
Lockport, NY
 
Dove Life Solutions, Inc.
(800) 581-0160
PO Box 11
Buffalo, NY
 
Lowville Satellite
(315) 782-9262
30-20 Thomson Avenue, Suite B
Long Island City, NY
 
Lehman College SBDC
(718) 960-8806
350 New Campus Drive. Morgan 3
Brockport, NY
 
Madison County Satellite
(315) 697-9817
3215 Seneca Turnpike
Canastota, NY
 
Small Business Development Center
(716) 878-4030
1300 Elmwood Ave
Buffalo, NY
 
HTR Outreach
(585) 395-8410
150 Lucius Gordon Drive
West Henrietta, NY
 
Geneseo Outreach
(585) 245-5429
1 College Circle, South Hall Room 111
Geneseo, NY
 
Stony Brook Incubator @ Calverton Satellite
(631) 727-3992
4603 Middle Country Road
Calverton, NY
 
SUNY at Farmingdale SBDC
(631) 420-2765
2350 Broadhollow Road
Farmingdale, NY
 

How to Become Rich

Becoming a millionaire may sound impossible. Millionaire may strike you as a term that’s meant for other people, not you. But that’s just not true.

How long you are willing to give yourself to achieve that goal directly shapes how much money you must sock away each year to get there. If you have 30 years to stockpile your million—as many people aiming toward retirement do—then you have to come up with only $675 a month or $8,100 a year. If you are getting matching dollars from an employer’s 401(k) or other similar retirement plan, you don’t even have to come up with all of that money yourself.

If you want to reach your goal in half the time, I can show you how that picture works as well. But whether there’s an employer match in the picture or not, you’re going to have to be more aggressive in your savings (and perhaps your earnings as well). Whatever timetable you’re looking at, if you put your mind to it, it can be done.

The Millionaire Math
Here’s what happens to your money when it’s put away to grow tax-free:

The 30-Year Millionaire
If, starting today, you can find $675 a month to invest tax-deferred at 8 percent, 30 years from today you will have your $1 million. Here’s where 401(k) plans are so useful. If you are in a 401(k) plan that matches your contribution, you may have to come up with much less money yourself.

Click here to read the rest of the article at SuccessMagazine.com