So how much does it cost to become a Millionaire? Not as much as you might think. How much would someone need to save every day of their life in order to be a millionaire by age 65. $10, $100? Actually it is much lower. It would only take about 24 cents. Assume that your parents started an account with one dollar in it when you were born and every day they added $0.24. If you keep that up for your entire life, by the time you turn 65 you’ll have over $1,000,000 assuming you get a rate of return comparable with the stock market.
Not bad for less than a quarter per day.
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