| In the year 2002, there were 17.1 million | | | | invested returns 15% per annum. If the |
| Millionaires in the U.S. By 2013, the number of | | | | investment rate of return falls to 10% per |
| millionaires will triple due to inheritance. For the | | | | annum, the millionaire age is moved to 63 years |
| rest of you, becoming a millionaire is within reach | | | | old.InvestingFocus on an investment portfolio that |
| if you apply a 5 step plan involving the following | | | | minimizes your fees and maximizes your returns. |
| areas:1. Health | | | | If you are not sure about the types of |
| 2. Spending | | | | investments, consider low cost index funds such |
| 3. Savings | | | | as the S&P 500 or Russell 5000.CareerNo matter |
| 4. Investing | | | | how much you position yourself, your career will |
| 5. CareerHealthTake care of yourself. If your | | | | dictate how quickly you reach the millionaire |
| health is no good, you are not going to enjoy the | | | | plateau. You have to move above and beyond |
| rewards of a solid financial plan. Eat right, exercise | | | | your job description; Excel in your performance; |
| daily, and discipline yourself. The most successful | | | | Make yourself invaluable to the organization. Align |
| investors are those people who have the best | | | | your goals and focus on efforts that make you a |
| discipline to stay with the program.SpendingIt's | | | | valuable employee. You want those merit raises. |
| true, a person will always live up to the amount | | | | They will add up.Check out the Groco Millionaire |
| of income they earn. If you make the money, | | | | Calculator to determine how much you need to |
| you are apt to find a place to spend it. The key | | | | put away to enter the millionaire class: Olsen is the |
| to successfully saving is to spend less than you | | | | managing partner at Greenstein Rogoff Olsen & |
| make and to also spend more money in areas | | | | Co., a top Bay Area CPA firm. He focuses on |
| that will actually preserve wealth.SavingsA | | | | developing innovative strategies for business |
| disciplined approach to saving reaps rewards in the | | | | enterprises and individuals. A specialist in income |
| future. While saving early in your career, allocate a | | | | tax planning, he frequently lectures and writes |
| larger percentage of your savings to stocks. A 35 | | | | articles on tax issues for professional organizations |
| year old with $10,000 and saving $500 a month | | | | and community groups. |
| will become a millionaire by age 56 if the money | | | | |