It’s really quite a simple thing to become a self-made millionaire if you simply save $100 per month year in and year out from the age of 20 to the age of 65 and you invest that money in a well-managed mutual fund invested in the stock market.
Brian Tracy, Author, International Bestseller of “21 Success Secrets of Self-Made Millionaires” and “Million Dollar Habits”
[If] you would earn 10.8% per annum on your investment, at that rate, $100 per month would be worth more than $1,200,000 when you retire.
The most successful people in every society are those with long time perspective. They think of 10, 20, 40 years into the future.
In thousands of interviews, researchers have found that self-made millionaires in the area of money think about financial independence most of the time. They organize their entire lives around saving and accumulating; they think continually about how they can earn or acquire more and better invest and deploy their savings.
The only way that you’re going to achieve financial freedom is with a long time perspective, saving and investing your money month after month, year after year, until you have enough that you would never have to worry about money again.