FundRobot » Mutual Funds » How can I start my road to becoming a millionare?

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Old   #1 (permalink)
 
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Default start my road to becoming a millionare

I'm 18, and I know getting a job and saving 25k a year won't get me hardly anywhere, I'm going to become an accountant in acouple of years, what should I do?

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Old   #2 (permalink)
 
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The stocks my friend the stocks, try Mutual funds they're not very volatile as they are balanced out and give an average growth of 12% per year meaning if you invest that 25k you will have a return of 3'000 in one year! You could also try ETFs which are fairly similar to mutual funds with a slight difference.
But best of luck!
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Old   #3 (permalink)
 
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Default start my road to becoming a millionare

25 k can get you somewhere. It depends which country you are in but if you have 2 yrs. of savings 50 k, you can buy a property and borrow the rest. Real estate investment can be a good start up. You can also buy some stocks or whatever you can do at a better rate of interest than the bank. You will not become a millionaire straightaway but every penny well saved and well invested will make you a millionaire in the future. If you want the quick way, buy a lottery ticket which is not a sure ball. Patience is watching your money grow is the key. Finding avenue for good investments is great with a not so risky venture. Good Luck
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Old   #4 (permalink)
 
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Default start my road to becoming a millionare

If you are able to save 25k a year, you are very lucky. Invest wisely and then reinvest the profit. I think stocks are the best way to go but again, you must chose wisely and, of course, theres always the thing about needing money to make money.
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