Waiting 20 Years Can Cost You Millions - Don't Wait Start Today
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Summary:
If my young friend were to invest his $20 a Week and receive a 10% Return on his investment - In 20 Years when he is 41 he will have a little over $66,000
- In 30 Years when he is 51 he will have a little over $198,000
- In 40 Years when he is 61 he will have a little over $550,000.
- In 45 Years when he is 66 He would have a little over 920,000
- In 50 Years when he is 71 He would have over $1,500,000.
Article:
Many Young people live for Today. They really don't fully understand the power of compound interest. The Difference midst investing as little as $20 a week at age 20 or waiting until age 50 can be over $3,000,000 (yes 3 Million). Don't wait start today! Recently I was in a 7-11 and I watched as a young man Purchased $10 worth of Lottery Tickets. As he was walking away from the counter he started talking to me. He told me he just turned 21 and he was going to buy $10 worth of Lottery Tickets for every Pick six as long as he had a steady Job. In Missouri they have 2 Pick Six Drawings Weekly. I said to him Here is my card give me a call and I will show you a surefire way to transform a
Millionaire. He looked at me and said sure sure. I looked back at him and Said I will meet you tomorrow biased the street at the fawn shop and drug is on me would morning or afternoon be better. He Replied I get off work at 2pm So I can be here at 3pm. I said 3pm it is. I went home and plugged some numbers in an Excel Spreadsheet. Remember I did promise to make this 21 Year old kid a Millionaire. I was going to do for him what no one ever did for me. The Results are very telling. If my young friend were to invest his $20 a Week and receive a 10% Return on his investment
- In 20 Years when he is 41 he will have a little over $66,000
- In 30 Years when he is 51 he will have a little over $198,000
- In 40 Years when he is 61 he will have a little over $550,000.
- In 45 Years when he is 66 He would have a little over 920,000
- In 50 Years when he is 71 He would have over $1,500,000.
If my young friend were to be able to mid a 12% return the numbers are even more staggering
- In 20 Years when he is 41 he will have a little over $86,000
- In 30 Years when he is 51 he will have a little over $307,000
- In 40 Years when he is 61 he will have a little over $1,000,000.
- In 50 Years when he is 71 He would have over $3,400,000
The super numbers are very telling. Not only do they show my young friend the power of Compound interest but the Show my Young friend the Power of Waiting. As an Example if my young friend Continues to Buy lottery Tickets for 10 Years until he 31 and then decides to take my steer and invest the $20 instead of having $1,500,000 when he is 71 at 10% he would only have $550,000. Waiting 10 Years cost him nigh $1,000,000.At the 12% Return My Young Friend would loose over $2,400,000 the Difference betwixt and between $3,400,00 and $1,000,000 Now if my Young Friend were to Play the Lotto for 30 Years and Wait until he is 51 to take my teaching he would loose over 3,300,000 at 12% the Difference among $3,400,000 and $86,000.
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