I listen to a podcast called the million dollar plan. It is a 1 on 1 interview style show where the host discusses the finances of a featured guest. The gist of it is to reveal when the interviewee will reach a million dollars. That million dollar day could be 4 decades in the future, but the host (Pete) discusses with them how to speed up that process and reach a million dollars sooner with several action steps. Motivating People to Reach a Million Dollars is necessary to any money coach. Because when clients succeed everyone wins.
Now with this topic about finances fresh in your mind, do you have any idea when you will reach a million dollars, or if you even have a plan to reach it? Many people in the media now days always put off a million bucks like it’s not enough. But believe me a million bucks far supersedes the investment accounts of most baby boomers. The average boomer over 60 years of age has about 2ooK in retirement accounts as advertised in the same media outlets that say a million is chump change.
Motivating People to Reach a Million Dollars
As for me I will reach a million in the year 2030 with a bit of luck and consistent contributions. But do not hit me up for loans at that time as I don’t believe in indebtedness or loaning to family members as it tends to ruin relationships. That goal is just an estimate based off the calculations and current savings rate maintained, also if the markets stay on pace with 8% return on money.
I am writing this to motivate everyone reading this to do more financially. Just the other day it was 2009, and now 10 years later how much more do you have saved compared to then? So what does that tell you, time is passing fast, and we need to reach that million ASAP? For many hard working people that million will provide the investor with 40,000 thousand dollars in dividend income. Which in turn could replace income from a full time job.
Imagine what life would feel like if you could work for 3 more years after reaching a mill, maintain the full time job, a fully padded Emergency fund, effectively maxing out a 401K, reinvesting $40K from dividends, maxing out a Roth IRA, No Debt, and can still enjoy life? That is a real possibility with the choices you make today. Take the steps and proceed to do at least 1 financial action activity weekly to speed up your million dollar day. Dreams become reality, and the reality will turn into an Unfathomable life later.
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Resource – Million Dollar Plan Site
Rich Uncle EL
