Are the odds stacked against you?
- Odds of hitting a $1M jackpot: estimated to be 1 in 2,389,218
- Odds of hitting a $1M slot machine: 1 in 49,836,032
- Odds of being killed by lightning: 62 in 300,000,000
- Odds of being killed in an airplane accident: 1 in 5,400,000
- Odds of being killed in an airplane that was struck by lightning (now you’re being silly!)
- Odds of becoming a Millionaire: 1 in 1
Yes, YOU can become a millionaire
All it takes is the commitment to these three things:
- Commit to living on less than you make.
- Invest $100 a month in a decent investment averaging 12%.
- Follow the above two commitments for 40 years.
Anyone, really? Me too?
That is right. ANYONE can become a millionaire if they were to save $100 at 12% (average for the DOW over the past 70 years is 11.7%, so we’ll use 12% for simplicity) for 480 months. By doing this your investment will grow over time to $1,176,477.25.
However, our culture has taught us to spend everything, go into debt for some things, and only think about what’s going on this weekend. And it takes a lot to get ourselves to stop believing what everyone else is doing and what all the advertising is telling us.
The “You Can’t Get 12%” excuse:
By the way, don’t believe the general public’s opinion that “you can’t get a 12% return”. I can show you how to get more than a 12% return on your money with a pair of scissors and your 18% APR credit card. Get out of debt and stop paying interest to banks to find the $100 a month you need to get wealthy.
Yes, it will require change for many and sacrifice for all who desire it but what would you pay to become a MILLIONAIRE?