ONE MILLION DOLLARS. It has a nice ring to it. For some of us, we desire to be millionaires one day. But how? It can happen many ways. It all starts with saving. A 401k is a great way to build up $1,000,000 of net worth. How is this? Most of the time an employer will match your contribution up to a certain percentage. This is FREE money. Combine that with the fact that 35-40 years of employment and it is easy to see how the amount can add up. At the end of the day it is all math.
Experts suggest saving various amounts of your income depending on one’s age; however, money saved is money not spent. Save as much as you can while still enjoying life. The following video discusses how one’s 401k can lead to millionaire status.
Budget Smart, Invest Wise