How to Become Rich Ithaca 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.

Dunkirk Satellite
(800) 522-7232
37 Church Street
Cortland, NY
 
Cortland County Satellite
(607) 756-2814
37 Church Street
Cortland, NY
 
Jefferson Community College SBDC
(315) 782-9262
37 East Main Street on Route 96
Victor, NY
 
SUNY Brockport
(585) 395-8410
350 New Campus Drive. Morgan 3
Brockport, NY
 
Schenectady County Community Business Center
(518) 485-7647
920 Albany Street
Schenectady, NY
 
Cortland County Satellite
(607) 756-2814
37 Church Street
Cortland, NY
 
Stony Brook Incubator @ Calverton Satellite
(631) 727-3992
4603 Middle Country Road
Calverton, NY
 
Chenango County Satellite
(607) 777-4024
19 Eaton Avenue
Norwich, NY
 
Greater Syracuse Chamber of Commerce Satellite
(315) 498-6170
572 South Salina Street
Syracuse, NY
 
Onondaga Community College SBDC
(315) 498-6070
920 Albany Street
Schenectady, 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