HOW TO BECOME A MILLIONARE! It is called “Delayed gratification”. Start by saving a little at a time on a regular basis, $25/$50 per month. When you have enough, buy into a good mutual fund and let it the interest add to the compounding return. You don’t need a lot of money to earn a lot of money if you use your “TIME” wisely! The historical annual return on investment for the S&P 500 since 1929 has been 10%! Fidelity Magellan Fund (FMAGX) under Peter Lynch (1977–1990) was the most successful mutual fund of all time based on sustained high performance. Key Performance Details Average annualized return: 29.2% over 13 years. If you saved $20 a week, every week for 10 years you would have saved $9,960, add to that the return on investment would more that double that total! If you kept on saving another 10 years it would be North of $80.000.00 and almost $300,000.00 in another 10 years. Assuming monthly deposits of $83 compounded at 12% annual interest (standard for this type of calculation), here are the estimated results:Time - Value - Total Invested10 yrs. - $19,093 - $9,96020 yrs. - $82,108 - $19,92030 yrs. - $290,082 - $29,880
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Roger
I am an example of this.
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