Disclaimer: I am not a millionaire, nor a financial adviser. I am someone motivated by behavioral changes that create results. I would like to share my ideas with you.
I told my 15 year-old sister that if she puts $500 in a Roth IRA each month starting now, by the time she is 40 she will be a millionaire easily. I am not sure if that is true because I am bad at math. But I believe it is possible and compound interest is real. I believe that if you do something long enough, you are more persistent and you have passion, you can do anything. You can even become a millionaire. This belief system started about a year ago.
A year ago I was in debt–I still am, like most millennials, and I was trying to buy a house I could not afford, like many of my peers. My wife was losing faith in me, we argued about wanting things we could not afford, like a house. We could not find anything in our price range and we didn’t really have a price range or a plan: just buy, that was it. We were juiced or influenced by everyone around us, social media, family, and realtors. When we hit rock bottom that was the turning point. We had spent about $5k in money that wasn’t ours. We had credit cards and student loans and we needed a house. Until we realized we had bigger problems. We had debt problems. Then we stopped.
At that point I started listening to and reading Dave Ramsey, I started reading Brian Tracy, I started reading about investing and inflation, and I started working toward integrity with my partner, trying to become something and someone I thought I could never be, just better and debt free.
A year later I am trying to motivate others to do what is right for their future, for their finances. Numerous books on investing and economics and savings and I have realized that if you want freedom you must protect your finances and work towards growing your wealth your future and your family. These ideas are not new, I am not claiming to have created them, but they have drastically changed my life and my situation for the better so I feel I owe it to others to share it with them, my experience that is.
I see people in debt. I see people unable to pay their student loans and posting on social media about how they consume and use money they don’t have to buy a lifestyle they cannot afford, distracted. I see people protesting when they can fix their problems now, and help others later after they have risen out of their debt. Debt is slavery, to me.
These ideas about my sister being a millionaire by 40 have lead me here. I am about to pay off a credit card that would have been with me a lifetime. I have a plan to pay off my student loans in less than 5 years, including my wife’s. All our consumer debt is nearly gone, save for $680. We are working together as a team to make our family prosperous. It takes hard work and a plan and nothing is perfect but we have seen results in a year and I think you can change the world if you change your financial situation. Believe.
I believe my little sister will become a millionaire by the time she is 40 if she puts $500 into a Roth IRA every month until that time.
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