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10 Ways to NOT Be a Millionaire - Series Recap | Series 9.11
Recapping easy traps people tend to fall into when it comes to money and saying good bye to Joe's game show voice!
- Someone who saves $500 a month at 10% for 30 years, winds up with over $1.1 million. Someone who waits 10 years and then starts the same exact program would wind up with less than $400,000. (01:44)
- For a young family, your future income potential is your greatest asset. If you make $100,000 now, then over the next 30 years at 2% wage growth, you would bring in over $4 million. A huge asset that is exposed by not having disability insurance protection. (03:18)
- Spending a greater percentage on our budget on cars and houses and other shiny objects can feel great and simultaneously, it can push us farther away from being millionaires. (07:14)
Quote for the episode: "Wealth is what you have, what you save and grow, not what you make." (08:42)
Securities offered through TFS Securities, Inc., and Advisory Services through TFS Advisory Services, an SEC Registered Investment Advisor Member FINRA/SIPC. TFS Securities, Inc., is located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.
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By Joseph P. Okaly
5
1313 ratings
Recapping easy traps people tend to fall into when it comes to money and saying good bye to Joe's game show voice!
- Someone who saves $500 a month at 10% for 30 years, winds up with over $1.1 million. Someone who waits 10 years and then starts the same exact program would wind up with less than $400,000. (01:44)
- For a young family, your future income potential is your greatest asset. If you make $100,000 now, then over the next 30 years at 2% wage growth, you would bring in over $4 million. A huge asset that is exposed by not having disability insurance protection. (03:18)
- Spending a greater percentage on our budget on cars and houses and other shiny objects can feel great and simultaneously, it can push us farther away from being millionaires. (07:14)
Quote for the episode: "Wealth is what you have, what you save and grow, not what you make." (08:42)
Securities offered through TFS Securities, Inc., and Advisory Services through TFS Advisory Services, an SEC Registered Investment Advisor Member FINRA/SIPC. TFS Securities, Inc., is located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.