How many millions do you want?

Many people ask the question, "How do I get a million dollars?"

Thought I will share an interesting way to accumulate a million dollars.

Let's say, you invest 10,000 dollars today. If that money grows at a compounded rate of 14.4% a year, in roughly 5 year's time, you would end up with 20,000 dollars. Suppose you reinvest this money in the same investment vehicle and wait another 5 years. At the end of the second 5 years, you would have 40,000 dollars. Let's just assume that you keep that money invested for another 3 more 5 years. By investing 10,000 dollars today, you end up if 320,000 dollars in 25 years. Simple?

Still far from 1 million? True but consider this. Is there anything stopping you from investing 32,000 today? If not and you invest 32k today, congratulations, you have just got your million in 25 years.

Don't have 32,000 today,..., not a problem. How about 10,000 per year for 4 years?

For example, if you are 35 years old today, the scenario would look like this:-

At 35 years old, you invest $10k
At 36 years old, you invest $10k
At 37 years old, you invest $10k
At 38 years old, you invest $10k

At 60 years old, you get back $320k
At 61 years old, you get back $320k
At 62 years old, you get back $320k
At 63 years old, you get back $320k

It basically means that after you retire at the age of 60, you will get a cheque of $320k each year for 4 years. Is that enough for you or do you want more? It's really up to you!

Everyone deserves that million dollars. The question really should be "How many millions do you want?", don't you think so?