2007-06-14 10:11:42 · 8 answers · asked by kingbee1314 1 in Business & Finance ➔ Personal Finance
If you consider 39 years 'quick', invest $100/month in a good mutual fund. After 39 years, you will have over $1 million. Larger investments reduce the time required.
I have confirmed Dave Ramsey's math on this one multiple times.
2007-06-14 12:16:51 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
This is not possible. Sure someone can buy a lottery ticket and win. But that is a longer shot than a million to one.
The best way to become a millionaire while young, under 40, is to start your own business. And if that was easy we would all be millionaires.
So it amounts to very hard work, persistence in the face of failures, intelligence, business sense, determination to achieve your goal at any cost.
Good Luck. It can be done!
2007-06-14 17:23:46 · answer #2 · answered by Patrick M 2 · 1⤊ 0⤋
You can't. Get rich slowly by spending less than you make. Never leave yourself without an emergency fund, don't borrow money except for a house (and don't buy more house than you need).
The quick money doesn't exist in real life unless you have an extremely wealthy relative who's leaving it all to you.
2007-06-14 17:22:56 · answer #3 · answered by moneywise 3 · 3⤊ 0⤋
I dont know about a million, but moneywise is right, Dave Ramsey is a pretty smart guy when it comes to finances.
2007-06-14 18:50:43 · answer #4 · answered by Anonymous · 1⤊ 0⤋
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2007-06-14 19:57:39 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Win the lottery. Good luck!
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2007-06-14 17:15:16 · answer #7 · answered by Anonymous · 0⤊ 7⤋
wouldn't everyone like to know the answer to that?!!
2007-06-14 17:53:01 · answer #8 · answered by ruca80 3 · 0⤊ 0⤋