English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

13 answers

1,000,000.00/ 20 yrs= $50,000.00....
You need to make a profit of $50K a year to do a Million in 20 years. So you need to look at what really sells (anything really ) but you have to be able to do the volume required to make this profit.

Do you have any skills? Auto machanic? if so, you could open your own side mechanic shop and make a descent profit each year. You just need to evaluate your skills, financial history (gather all your papers together for the bank,because you need money to make money) , current income, and backup income until you get your company off the ground.

Or you could just cut an album and sell it like a record label does, is there a potential singer in you? lol.....Good luck Millionaire to be!

2007-05-15 14:40:04 · answer #1 · answered by Ansariteaway 3 · 0 0

I assume you mean 1 million in saving in 20 years?? Here you go and only for you. It is going to take some work but it can be done rather easy, once you get started. If you where to invest $300 per month in a mutual fund paying 12% you would have 1 million dollars in 30 years. So invest $500 per month in that same mutual fund and in 20 years you would have your 1 million dollars. Simple wasnt it. And you thought it would be hard. Good Luck 2 U

2007-05-15 19:29:09 · answer #2 · answered by Dano N 3 · 0 0

Do you mean a billion? The real question is how much do you have to invest now? Unless you're a genius, it's unlikely you could get more that 5% a year from any investment on a long term basis, so you're going to need a few Hundred Million today. If you're a genius, the chances are you'll end up broke anyway.

2007-05-15 14:40:23 · answer #3 · answered by squeezie_1999 7 · 0 0

You can figure this out using something called future value. In excel it's formula symbol is fv.

If you invest in the stock market using a S&P index fund and get similar return to the last twenty years, you'll have $1,000,000 in 20 years by investing $21,000 a year. If you use a Dow Jones index and get a similar return, you could do investing $19,250/yr.

If you have an employer that does 100% matching in a 401K and you have an S&P index fund available, you could do in 20 years putting $10,500 a year away.

http://en.wikipedia.org/wiki/Future_value

2007-05-15 14:57:44 · answer #4 · answered by no_such_reality 2 · 0 0

1 Billion Dollars in 20 years is possible, but you need to start out with 1 Million Dollars.

However, for those of us with more modest means, say $10,000 to invest over 20 years $10 Million does seem possible using the stocks monthly system.

2007-05-16 05:45:07 · answer #5 · answered by Anonymous · 0 1

You are asking a strange question.

There is no starting principal, yet in 20 years you want to have a million million, which is a Thousand Billion dollars?

Even Bill Gates has only 40+ billion. The Sultan of Brunei has only 25 Billion. Larry Page and Sergey Brin, founders of Google, have 34+ Billion each.

In 20 years you want to have more money than all of them combined.

Good luck. I'm not holding my breath........

2007-05-15 14:38:12 · answer #6 · answered by InspectorBudget 7 · 0 0

Invest $1000.000.00 million dollars in bonds now

2007-05-15 14:36:44 · answer #7 · answered by tx1942txx 4 · 0 0

I once saw a story about old school teacher who built 1 million dollar retirement portfolio. Google her.

2007-05-15 14:39:21 · answer #8 · answered by Anonymous · 0 0

An investment you couldn't afford now.

You want a lot of money in just a little time.

You need to get real.

2007-05-15 14:36:22 · answer #9 · answered by FaZizzle 7 · 0 0

Marry Paris Hilton or one of Trumps daughters. LOL

2007-05-15 14:37:20 · answer #10 · answered by suzie 2 · 0 0

fedest.com, questions and answers