How to save a million at age 25?
Let's assume, that you 've lived your young days spending, and you've saved absolutally notheing - in our case $0
If you wand to to save one million dollars by age 65 all you need to save is $286 per month, or ~ $9 per day.
Examples of successful savings strategies
If you have just graduated and/or just started your career, this is your chance to build a solid financial foundation. Time is absolutally on your side.
Contribute enough to your company 401(k) plan to capture your employer match. If you don't have a retirement plan at work, fund an IRA.
You'll be investing for 30 years or more, so you can afford to keep 100% of your account in stocks.
Pay down credit cards and other high-interest debt. That will free up money to save for a house.
Set up an emergency fundequal to three to six months of take-home pay. Stash it in a readilyaccessible account in an online bank that pays interest of 4% or more.
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