According to Clark Howard, anyone can be one, and its true!
Who Wants to Be A Millionaire?
The key to becoming a millionaire by age 65 is to start saving early!!!
If at age 15 you start saving $2000 each year for seven years straight, then by the time your 65 years old, your savings will be worth $1,020,430, but if you wait until your 35 you’ll have to put away $6,079 each year for 30 more years to get $1,000,000.
Clark Howard’s tips for saving:
1.Put money into your company’s 401K to the maximum your employer matches.
2. Put $3,000 each year into a Roth IRA.
3. Raise your 401K deposit to the maximum amount allowed.
4. Save for a rainy day.
5. Save for your child’s college in a 529 plan.
Find out more money saving tips over at http://clarkhoward.com