Friday, April 14, 2006

Damn! Coffee is expensive!

Are You Flushing One Million Dollars Down the Toilet?

According to this article, giving up a coffee habit can make you a millionaire. I know it may be hard to believe, but it's true.

I once read book a called More Wealth Without Risk that said if you started investing a dollar a day when you got your first job around age 15-16, that by the time you were old enough to retire you would be a millionaire. Even at minimum wage, that's an affordable investment. Only $7 a week.

A little bit can go a long way when you add it all up.

This same book also suggested that parents, instead of starting a college fund for their children when they are born, start a retirement fund for them. It will make them wealthy when they are older. Much more wealthy than the college education will.

And instead of killing yourself to pay for college for all of your kids, make it a goal to have enough money in your retirement that you won't need them to take care of you financially. Don't be a burden to your children and help them not to be a burden to theirs.

Kids will grow up and somehow make it on their own, eventually. Even if it's a struggle for them, they will make it. Having that retirement fund that you started when they were born will make sure that struggle won't be in vain.

Now don't you wish your parents had started a retirement fund for you the day you were born?

blog comments powered by Disqus