Why Marry a Millionaire? Just Be One! by Wendy Robbins

Author:Wendy Robbins
Language: eng
Format: epub
Tags: ebook, book
Publisher: Hay House
Published: 2010-09-29T16:00:00+00:00

CHAPTER 8:

I Will Give You $1,000

My friend Bob Allen created a billiondollar industry with a single concept: a book and seminars on how to buy real estate with no money down. He started with a $25 classified advertisement. That one ad created a multimillion-dollar business for him.

What can you do with $25 or using the

classifieds — on and offline?

Years ago he taught me something amazing, something that proves you can be a millionaire just by saving one dollar a day. Think about the day you were born and imagine your parents opening a bank account in your name with a single dollar bill. If they put in a single dollar a day into an account that made 10 percent interest, by the time you were 56 you would be a millionaire. If you earned 15 percent interest, you would be a millionaire by 40. At 20 percent interest you would have $1 million in the bank by age 32. Yes, it is that doable.

What’s that I hear you thinking? It’s impossible because no bank will pay 15 to 20 percent interest on your investments? Well, true...which is why you need to come up with some different strategies. Banks will use your money to make interest for themselves. Each dollar you have represents a debt. The minute you deposit it into a bank, it transforms into borrowed money — which, these days, nearly always equates to a loss.

Credit-card, mortgage, and car companies have it all figured out. They loan you money and charge compounded interest. That same dollar your loving parents put in the bank the day you were born could sit in the bank for 66 years at a 5 percent interest rate and earn you a whopping $193,000. Sure, it’s nothing to sneeze at, but it’s hardly a retirement cushion.

Bump that interest rate up to 10 percent and suddenly you have $2.7 million. Now we’re talking. Take that dollar out of the bank and find an investment that pays 15 percent interest and suddenly you have $50 million to play with. Even better? Find something that pays 20 percent interest and at age 66 you will be sitting on $1 billion!

We are talking about $1 a day and finding something that pays interest!

If you are older, and started saving or investing later, you are obviously looking for ways to accelerate your investment. The simple answer is to save more each day. What do you waste money on now? Coffee? Cigarettes? Junk food? Alcohol? Cable TV? You bought this book because you recognize that something needs to change, right?

This is your golden opportunity.

Starting now, you are going to save daily and invest wisely. I will give you the strategy and tools to make 15, 25, and even 50 percent interest on your money with a safe, proven, government- and real-estate-backed plan.

If you save just $10 a day, it will take you 34 years at

10 percent interest, 25 years at 15 percent interest, and 20 years

at 20 percent to be a millionaire.

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