How to Become Rich Merced CA

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.

The Alliance SBDC - Merced
(209) 381-6557
3600 M St. TCC Box 103
Merced, CA
 
CSU Bakersfield SBDC - Bakersfield
(661) 861-7951
2000 K Street, Suite 300
Bakersfield, CA
 
Mendocino SBDC
(707) 964-7571
760B Stewart St
Fort Bragg, CA
 
Economic Development Corporation - Ventura County SBDC
(805) 384-1800
1601 Carmen Drive, #215
Camarillo, CA
 
Los Angeles Regional SBDC Network
(562) 938-5008
4900 E. Conant St., Building 2, Suite 108
Long Beach, CA
 
Central Coast SBDC
(831) 479-6136
6500 Soquel Drive
Aptos, CA
 
Imperial Valley SBDC
(760) 312-9800
301 No. Imperial Ave., Suite B
El Centro, CA
 
Northern California Regional SBDC
(707) 826-3919
1 Harpst Street, House 71
Arcata, CA
 
CVBI-SBDC
(559) 292-9033
1630 E. Shaw Avenue, Suite 163
Fresno, CA
 
Santa Monica College SBDC
(310) 434-3323
3400 Airport Avenue Suite 76
Santa Monica, CA
 

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