How fast can you save $1,000,000 at today’s interest rates? It will take 42 years to save $1,000,000 at 3% saving about $1000 per month. But in 42 years, your $1,000,000 will only be worth the equivalent of $435,304 today taking into account inflation. How does that make you feel?
$1,000,000 would generate $2,631.51 per month forever at 3%. So whether you can save $1,000,000 or generate ongoing income of $2,631.51 per month, you are a millionaire equivalent. Can you afford to wait 42 years?
A better way for most people would be to find a way to generate ongoing income. Ongoing income is income that is generated now that continues to pay you in the future. If you have a way to do that doing what you are currently doing, excellent!
If not, what are your options? If you have the talent and luck you could become a recording artist and earn royalties from record sales forever. If you are a talented writer you could earn royalties from book sales. If you could open a business that has the management to continue operating without you but continues to pay you income.
Obviously the average person cannot realistically do most of those options. Why not do what you have always done for free and generate an income? What have you been doing for free? Recommending things. Movies, restaurants, TV’s, shoes, computers, diets, vitamins, etc...
By recommending things you like or great deals you find to others, like you have been doing since you were six years old and helping others do the same, instead of taking 42 years to save $1,000,000, you could take one or two years in 10 hours per week to generate $2,631.51 per month of ongoing income or much more. There are many companies out there that will allow you to do this. CLICK HERE for the company I believe gives the average person the chance to succeed.
