How would you like to have an additional $176,496.00 sitting in the bank? Now before you say, “I do!” I want you to understand that this method does not require you to have an extra job or join some network marketing company. All that this method will require is for you to do is to basically keep up with all of your loose change. Sound like something that you can do?

 

Good, then lets get deeper into the subject.

 

You may be wondering how is it possible to turn a measly $1.66 per day into the large sum of $176,496. Well, that is the magic of getting started early in investing and the magic of compounding interest. When you combine those two things with money you have started building wealth.
 
Lets look at this magic in more detail. First, $1.66 per day adds up to $49.80 every 30 days (lets add $0.20 to make it an even $50.00 per month). If you invest it monthly for 30 years with a 12% annual return (stocks overall have returned an average of more than 10% a year since 1926) growing tax-free would be worth $176,496.

 

Not bad for just keeping up with your pocket change.

 

Now, I am not going to leave you hanging here, I am going to tell you how to accomplish this goal. Simply put, you are going to have to commit yourself to wealth. Asking you to set aside $1.66 per day is not asking a lot. You will need to change how much money you are spending on eating out for lunch. Why not go out to eat half the time instead of all of the time? Lets take a look at some of the ways that you can save money and hopefully, these are things that you can make changes too with no problems.

 

 

There are two ways to look at these numbers, you can see them as a way to build wealth or you can plainly start to see how much money you may be giving away yearly to expendables. What would you rather have, all of the things listed above or the comfort of a nice, secure retirement?

 

For arguments sake, lets say that you could invest all of the $160 from the above scenario and add $40.00 to it making it a total investment of $200.00 per month for 30 years with a return of 12% growing tax-free. You could end up with a whopping $705,982. That’s almost a million dollars that’s waiting on you. You can have all of this by either keeping up with your pocket change or just cutting down (not getting rid of) your expendables.

 

The reality is that you can either make yourself very wealthy or you can make someone else very wealthy. The choice is yours! There are more things than what I have listed that you can slice and dice from to save money and you will have to do your homework to figure those things out. When you do discover those things that you can save money on, instead of planning on spending it and creating more debt start investing in the stock market and go after those 12% returns.

 

The sad part about it is that most people will cite tons of reasons as to why they are not going to invest, they say that the stock market is too risky and even those individuals will go and buy a $1.00 lottery ticket everyday in hopes of winning the one million dollar prize. For those who feel that way, I will leave you with two thoughts:

 

-- Article Courtesy of Keith B. Jones

If you are interested in buying stocks direct from the company without a broker and paying broker fee’s for as little as $50.00 per month, then visit www.blackwealthtour.com for more information.

 

Keith B. Jones is the Founder of Black Investor Organization and author of his best selling book Building Generational Black Wealth available at www.blackwealthtour.com

 

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