im 13 years old and want to know how i can start saving to become a millionaire. what should i invest in. what should i do
i have 1400 dollars in cash to use and im making 15 dollars mowing the lawn about every other week
i want to be rich
2007-09-01 08:51:56 · 3 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
At 13 years old, if you are already thinking about the future, there is no reason for you not to become a millionaire!
If you invest your $1,400 in a broad market Growth mutual fund (a parent or guardian can open an account on your behalf), and you add $15 every two weeks, EVEN IF YOU NEVER get a "real job", and just keep adding $30 a month, your savings will grow to a million dollars before you are 50, and more than THREE MILLION by the time you retire!
Best wishes!
2007-09-01 09:12:16 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Nice going man. Buy and read and apply 2 books:
1) "Millionaire next door" - if you want to be one, then do what they do, not what your broke friends or relatives suggest.
2) "Total Money Makeover" by Dave Ramsey - it's a proven step-by-step guide.
If you start young at your age and be smart, you'll be a millionaire.
2007-09-01 09:41:33 · answer #2 · answered by gmfeds 2 · 2⤊ 0⤋
Mostly takes luck.
2007-09-01 08:59:48 · answer #3 · answered by mattgo64 5 · 0⤊ 1⤋