Doug Andrew hears hears a lot of different questions from subscribers to his 3 Dimensional Wealth YouTube channel. One of the questions he’s heard regularly is this one: What’s the minimum amount that I can invest to become a millionaire? As Doug explains in this week’s episode, the amount required could be as little as $500 per month.
The amount of time you have to let this money accumulate, the amount that you put in and the rate of return are all crucial factors in reaching this goal. Plus, if you’re serious about becoming a multimillionaire, you’ll want to think in term of “what’s the most” rather than “what’s the least” money you could be putting away each month.
Choosing the right vehicle in which to accumulate this money is important as well. Will your money accumulate in a taxed-as-earned, tax-deferred or tax-free account? As Doug explains, choosing the right vehicle, combined with the miracle of compound interest, can make this goal a reality.
CHECK OUT THIS SNAPSHOT OF JUST A FEW OF THE SUBJECTS COVERED THIS WEEK:
- How can future taxes hikes affect your long term savings and your financial future? Doug shares the critical difference between the protection of tax-advantaged saving and everything else.
- Is that IRA or 401(k) setting you to surrender nearly 1/3 of every dollar you’ve put away? Doug reminds us how the government is eagerly waiting to get its cut of every tax-deferred dollar you have.
- Why must you protect your nest egg from that inevitable day of reckoning with the tax man? Learn how tax-free accumulation can put to rest any worries about outliving your retirement savings.
- What’s the difference between planning for retirement and the planning needed at retirement? Discover why your investments must be chosen wisely to maximize the income they’ll produce once you’re retired.
- Can you benefit from times when the market grows without getting waylaid when the market declines? Doug shares what indexing is and why should it be a key part of your financial strategy.
- What is the preferred savings vehicle to protect your savings from the ravages of higher taxes, rising inflation and ongoing market volatility? Doug describes his preferred vehicle and how it makes it possible to enjoy liquid assets safely earning predictable rates of return.
- And much, much more…
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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment.