How to Become Rich Watertown 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.

Chenango County Satellite
(607) 777-4024
19 Eaton Avenue
Norwich, NY
 
SUNY Institute of Technology at Utica/Rome SBDC
(315) 792-7546
572 South Salina Street
Syracuse, NY
 
Geneseo Outreach
(585) 245-5429
1 College Circle, South Hall Room 111
Geneseo, NY
 
Binghamton University SBDC
(607) 777-4024
7A Harriman Campus Road
Albany, NY
 
Stony Brook Incubator @ Calverton Satellite
(631) 727-3992
4603 Middle Country Road
Calverton, NY
 
Dunkirk Satellite
(800) 522-7232
37 Church Street
Cortland, NY
 
Poughkeepsie Satellite
(845) 454-1700
103 Rich Hall
Oswego, NY
 
Tompkins County SBDC Satellite
(607) 273-7080
100 Reservoir Road Campus
Herkimer, NY
 
New Windsor Satellite
(845) 867-2702
452 Broadway
Monticello, NY
 
Greater Syracuse Chamber of Commerce Satellite
(315) 498-6170
572 South Salina Street
Syracuse, 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