Millionare status is something we only ever dare to dream about when we pick up a lottery ticket or come up with a genius business idea while falling asleep, only to wake up and realise that no one would buy a combined pizza cutter and toy car.
But Bright Side has devised a chart showing how anyone can have $1m in their account by the age of 65, based on the advice of financial adviser David Bach in his book Smart Couples Finish Rich.
Bach writes in his book:
Becoming rich is nothing more than a matter of committing and sticking to a systematic savings and investment plan.
You don't need to have money to make money. You just need to make the right decisions — and act on them.
This chart, based on advice in Bach’s book, shows that daily savings from as little as $2 per day, if you start at the age of 20, can build up to $1m by the age of 65 – although the data doesn’t account for taxes.
|Starting Age||Daily savings||Monthly savings||Yearly savings|
Enjoy that retirement in the Bahamas.