The following chart shows how expensive waiting to invest is. It shows how much a person needs to invest in order to have a million-dollar portfolio by age 67, based on an average return on investment of 8%. I rounded cents up to the next whole number.
Also, you may notice that the daily and weekly amounts don’t add up to an exact monthly amount. This is simply because I used 30 as the average days per month.
The earlier you start investing, the less you need to invest. It’s the magical power of compounding. What are you waiting for?!
My buffalo, or freedom, is knowing I can choose to work or not. It is being able to help out and give to causes that matter to me. It is having a place to live that settles and inspires me and my family. It’s having dogs and horses and trees and pasture. I’ve grown into this life by investing.
Start a side hustle so I can invest more and quit my job sooner.
Keep working until I’m ready to do something else.
Be a generous secret millionaire.
Live a luxurious life.
Live a simpler life.
Keep working and have more than enough money to do things and help out.
Buy a vacation home.
Travel around the world.