Recently, I read an article that Dave Ramsey published saying you can retire a millionaire on $35 per week. I simply had to share his ideas. Don’t believe it’s possible? Here is what he said.
Let’s see what kind of future $35 a week could afford you if you invest in good growth stock mutual funds. That would be 15% of an approximately $12,000 salary—$3,000 less than what you’d bring home in a year if you worked 40 hours a week at the federal minimum wage.
—In 20 years, you could retire with $110,000 to $150,000.
—In 30 years, you could retire with $330,000 to $490,000.
—In 40 years, you could retire with $890,000 to $1.5 million!
Here is the full article.
Question: What do you think, Is this plausible? Do you actually pay yourself first or do you take what’s left over in your paycheck?
Corey Stokes 