Did you know that roughly 8% of American adults are millionaires today.
Are you aware of the #1 easiest way to become a millionaire?
The answer to easily becoming a millionaire is your company’s 401k. What is a 401k?
A 401k is a popular form of a retirement account.
In 1978, as part of the revenue act, the US Congress enacted Internal Revenue Code 401(k).
The idea was to help senior executives supplement their pensions. Long story short, it was designed to help the rich get richer…
The magic of the 401k happens due to a mystical force known as compound interest (Einstein called it the 8th wonder of the world).
Assuming a 9% interest rate, an initial investment of $400 with a monthly contribution of $400, will turn into a whopping $1.2 Million Dollars after 35 years.
This, I know you can achieve!
This means with an employer match of $200 each month on your $200 investment, you only need to come up with $84,200 total dollars over the course of 35 years to get to $1.2M!
Let’s take a look at the numbers based off of an extra $50 invested each month, so instead of putting away $200, you’re putting away $250 each month. In this scenario, you’ll have nearly 1.5M ($1,482,423.93) dollars banked.
If we repeat that same exact scenario with $300 each month and an employer match of $300, in 35 years you’ll have nearly $1.8M ($1,778,908.7) dollars…
That my friend, is the beauty of compound interest.
I get that there may be some naysayers that disagree with me. Some might say the easiest way to become a millionaire would be to invest in crypto (dogecoin) or real estate, or winning the lottery. While there are tons of ways to become a millionaire, gambling on dogecoin isn’t going to work for everyone, real estate requires upkeep and what they say is you have a higher chance of getting struck by lightning than winning the lottery…. Your life insurance is likely to pay out sooner if your plan is to win a million dollars buying weekly megalbowl tickets.
I would argue that it’s not only easier to just put aside $200 every month but you can also rest assured that given time, based on a century of evidence, your goal of becoming a millionaire will absolutely be met..
Armed with this knowledge, you might consider skipping take out once a week or brewing your own coffee. Stephen Hawking said intelligence is the ability to adapt to change. Let’s change your money situation starting today!
Short
Your company’s 401k is the EASIEST way for you to become a future millionaire.
In 1978, as part of the revenue act, the US Congress enacted Internal Revenue Code 401(k).
The idea was to help senior executives supplement their pensions. By design the goal was to help the rich get even richer.
I’m Asian, so you absolutely must trust my math here; check this out:
Assuming a 9% interest rate, an initial investment of $400 with a monthly contribution of $400, will turn into a whopping $1.2 Million Dollars after 35 years.
This means with an employer match of $200 each month on your $200 investment, you only need to come up with $84,200 total dollars over the course of 35 years to get to $1.2M!
You, my friend, can definitely do this!
