Throwing your money away?
Do you toss your money away? Probably. Most people waste cash every single day. Do you buy coffee at a cafe? Do you smoke, have your shoes shined, or eat out frequently? Almost everyone has something small they waste money on that could make the difference between being rich or poor.
How could a cup of coffee or a pack of smokes a day make you rich? Let’s assume on average you spend $5 a day that you could save by making coffee at home, bringing a lunch, quitting smoking, etc. If you put your $5 a day into an investment that provides a dismal (dismal in my eyes) 10% yearly yeild, in 41 years you will have over $1 million!!
Imagine retiring with $1 million for only $5 a day. A worthy investment? I think so. If you increase it to $10 a day you’ll be a millionare in 34 years. Earn 15% a year with a $10-a-day investment and it will only take 25 years to earn $1,013,352.87!
So is it worth it to you to giving up that small consumable to retire young with plenty of money?
on December 16, 2005 at 9:09 am
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I like smoking, and eating out, and if I don’t have at least 50 Oz of mountain dew a day, I don’t think I’d live to see my million dollars.