Comments on: What’s The Fastest Way To Become A Millionaire?

By: southron

southron — Wed, 02 Dec 2009 16:05:59 +0000

the simple way is tackle one of the millionaire’s daughter if u dare

By: ?

Wed, 02 Dec 2009 15:13:00 +0000

AND stay legal? Win the lottery.
Other than that, tuck away as much as can.
DISIPLINE .
Force yourself to live below your means.
Pick some good stocks. I think energy stocks are good for a 10 year haul. Minimize the IRS extortion.
DO NOT repeat DO NOT get hung up in having to have the best car house etc. Buy a reliable $2000 junker car. Drive it until it drops then donate it to one of those charities that take old cars for tax deduction. Put what you would have spent per month away.
Support the FAIRTAX ACT H.R. 25 when it passes, you will have no income tax no withholding. Only a retail sales tax on new items only. Everyone will be able to get up the ladder quicker.
Check it out. http://www.fairtax.org
Frequently Asked Questions about the FairTax http://www.fairtax.org/fairtax/faqs.htm

By: earth angel

earth angel — Wed, 02 Dec 2009 14:47:57 +0000

Lottery ticket, worked for me………..########

By: edco

edco — Wed, 02 Dec 2009 14:24:10 +0000

Oh, you are making me nuts.

By: Leonardi

Leonardi — Wed, 02 Dec 2009 14:10:15 +0000

Here’s a mathematical answer:
Start with a $10,000 investment, and find an instrument that will yield 8% (several stocks are there today).
Every month add $100.
With your Yield of 8.0 % with monthly deposits of $ 100.00
(inflated 3.00 percent every year)
With an Initial Amount of $ 10000.00:
And a Final Amount of $ 1,000,000
You will reach your goal in 44 years,
But due to 3.0 % inflation
your $ 1,000,000 will only be worth
$ 272,371 in today’s dollars
To reach $ 1,000,000 in todays dollars
you will have to wait 69 years
when your balance will be $ 8,028,103
How’s that?
Good Luck
ED