How to Become Rich Plattsburgh 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.

Franklin County Industrial Development Corporation
(802) 524-2194
PO Box 1099
St. Albans, VT
 
Massena Satellite
(315) 386-7312
50 Main Street
Massena, NY
 
Malone Satellite
(518) 564-2042
158 Finney Boulevard
Malone, NY
 
Ticonderoga Satellite
(518) 564-2042
572 South Salina Street
Syracuse, NY
 
Greece SBDC Outreach
(585) 395-8410
103 Rich Hall
Oswego, NY
 
Vermont Small Business Development Center Burlington
(802) 658-9228
60 Main St
Burlington, VT
 
SBDC at York College
(718) 262-2880
Room 107 94-50 159th Street
Jamaica, NY
 
Tompkins County SBDC Satellite
(607) 273-7080
100 Reservoir Road Campus
Herkimer, NY
 
Lehman College SBDC
(718) 960-8806
350 New Campus Drive. Morgan 3
Brockport, NY
 
LI Business and Tech Center Satellite
(631) 859-8929
3500 Sunrise Highway
Great River, 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