Do you want to become a millionaire? It's easy. All you have to do is maximize your 401k and contribute $5000 every year to a ROTH or Traditional IRA and you will be a millionaire. Tax defered compound interest is the key to building your net worth. It may take you 40-45 years to succeed but you can if you start today. Did you know that interest earned on an IRA is not taxed annually? If your employer contributes to your 401k you would be crazy not to invest in it. Think of the money we waste on things we don't need. If there are two incomes in your household it will be that much easier.
Ever heard of the rule of 72? According to Wikipedia, If you were to invest $100 with compounding interest at an annual rate of 9% the rule of 72 gives 72/9=8 years required for the investment to be worth $200. You can double your money in 8 years!
$250,000 today is $500,000 in 2016 and 1 million in 2024. Go for it!
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