Comments on: How to Become an Accidental Millionaire http://www.moneyhelpforchristians.com/how-to-become-a-millionaire/ Frugal, Simple, Debt-Free Living, and Generous Giving Sat, 11 Feb 2012 21:06:49 +0000 hourly 1 http://wordpress.org/?v= By: 4 Habits of Millionaires http://www.moneyhelpforchristians.com/how-to-become-a-millionaire/comment-page-1/#comment-9570 4 Habits of Millionaires Thu, 21 Oct 2010 16:50:44 +0000 http://www.moneyhelpforchristians.com/how-to-become-an-accidental-millionaire/#comment-9570 [...] who become wealthy don’t often become accidental millionaires.  Instead, they take time to set and keep clear [...] [...] who become wealthy don’t often become accidental millionaires.  Instead, they take time to set and keep clear [...]

]]> By: The Last Carnival of Personal Finance of the Year! http://www.moneyhelpforchristians.com/how-to-become-a-millionaire/comment-page-1/#comment-1302 The Last Carnival of Personal Finance of the Year! Wed, 30 Dec 2009 18:27:15 +0000 http://www.moneyhelpforchristians.com/how-to-become-an-accidental-millionaire/#comment-1302 [...] Ford from Money Help For Christians presents How To Become An Accidential Millionaire, and says, “Saving to become a millionaire only requires a simple, disciplined investing plan [...] [...] Ford from Money Help For Christians presents How To Become An Accidential Millionaire, and says, “Saving to become a millionaire only requires a simple, disciplined investing plan [...]

]]> By: Paul Williams @ Provident Planning http://www.moneyhelpforchristians.com/how-to-become-a-millionaire/comment-page-1/#comment-1218 Paul Williams @ Provident Planning Tue, 22 Dec 2009 20:45:33 +0000 http://www.moneyhelpforchristians.com/how-to-become-an-accidental-millionaire/#comment-1218 Craig, Your basic point was spot on. I just worry that posts like these (or Dave Ramsey's advice) can lead people to think they shouldn't be saving very much at all. But the gist is great - starting early makes saving a lot easier. I didn't notice the changes until I saw Jason's comment, but the site looks great! Did you create your logo, or is that from Pete? :) Looks like his work. Craig,

Your basic point was spot on. I just worry that posts like these (or Dave Ramsey’s advice) can lead people to think they shouldn’t be saving very much at all. But the gist is great – starting early makes saving a lot easier.

I didn’t notice the changes until I saw Jason’s comment, but the site looks great! Did you create your logo, or is that from Pete? :) Looks like his work.

]]> By: Craig http://www.moneyhelpforchristians.com/how-to-become-a-millionaire/comment-page-1/#comment-1217 Craig Tue, 22 Dec 2009 20:31:06 +0000 http://www.moneyhelpforchristians.com/how-to-become-an-accidental-millionaire/#comment-1217 Jason, Glad you like the site changes. Also, I'm glad you recognized them! Jason,
Glad you like the site changes. Also, I’m glad you recognized them!

]]> By: Craig http://www.moneyhelpforchristians.com/how-to-become-a-millionaire/comment-page-1/#comment-1216 Craig Tue, 22 Dec 2009 20:30:18 +0000 http://www.moneyhelpforchristians.com/how-to-become-an-accidental-millionaire/#comment-1216 Paul, Thanks for you comment and I compleletly agree with both points. For the inflcation that is why I said that a million dollars will only buy you a coke anyways. That's my subtle way to say that your million tomorrow won't be worth nearly as much as your million today. Regarding stock market volitility that is why I said that these numbers are for illustrative purposes only and that the issue is much more complex. The basic point is simply a good disciplined early investing plan implemented early in life will offer good returns later in life. Paul,
Thanks for you comment and I compleletly agree with both points.
For the inflcation that is why I said that a million dollars will only buy you a coke anyways. That’s my subtle way to say that your million tomorrow won’t be worth nearly as much as your million today.
Regarding stock market volitility that is why I said that these numbers are for illustrative purposes only and that the issue is much more complex.
The basic point is simply a good disciplined early investing plan implemented early in life will offer good returns later in life.

]]> By: Paul Williams @ Provident Planning http://www.moneyhelpforchristians.com/how-to-become-a-millionaire/comment-page-1/#comment-1213 Paul Williams @ Provident Planning Tue, 22 Dec 2009 16:00:27 +0000 http://www.moneyhelpforchristians.com/how-to-become-an-accidental-millionaire/#comment-1213 Craig, You make a good point, but there are two flaws here. First, in 40-45 years, your money is only going to be worth about one-fourth of what it is today if inflation continues as it has in the past. That means your $1,000,000 in 40 years is only going to be able to buy what $250,000 can today. Most people can't retire on $250,000 today unless they live very frugally and can count on a decent pension or Social Security check. Second, stock market returns aren't the same every year - there's volatility. When you factor that in, you can't plan on just saving what your formula says - you have to save more. Combine those facts together, and most young people (under 30) should be saving at least 10-15% of the income amount they'll need in retirement. That percentage is much higher for older people who are just starting to save. Dave's advice of saving 15% only works for 30 year olds or younger - or people who were already saving 15% when they were 30 or under. .-= Paul Williams @ Provident Planning´s last blog ..<a href="http://feedproxy.google.com/~r/providentplan/dBOx/~3/VBVNuFD9Y0s/" rel="nofollow">Advent Conspiracy: Love All</a> =-. Craig,

You make a good point, but there are two flaws here.

First, in 40-45 years, your money is only going to be worth about one-fourth of what it is today if inflation continues as it has in the past. That means your $1,000,000 in 40 years is only going to be able to buy what $250,000 can today. Most people can’t retire on $250,000 today unless they live very frugally and can count on a decent pension or Social Security check.

Second, stock market returns aren’t the same every year – there’s volatility. When you factor that in, you can’t plan on just saving what your formula says – you have to save more.

Combine those facts together, and most young people (under 30) should be saving at least 10-15% of the income amount they’ll need in retirement. That percentage is much higher for older people who are just starting to save. Dave’s advice of saving 15% only works for 30 year olds or younger – or people who were already saving 15% when they were 30 or under.
.-= Paul Williams @ Provident Planning´s last blog ..Advent Conspiracy: Love All =-.

]]> By: Jason @ Redeeming Riches http://www.moneyhelpforchristians.com/how-to-become-a-millionaire/comment-page-1/#comment-1211 Jason @ Redeeming Riches Tue, 22 Dec 2009 12:36:13 +0000 http://www.moneyhelpforchristians.com/how-to-become-an-accidental-millionaire/#comment-1211 Great post! Just goes to show the power of saving early and saving often! It's amazing what a small percentage of your income saved can do over a long period of time. BTW - the site looks GREAT! Nice job! .-= Jason @ Redeeming Riches´s last blog ..<a href="http://feedproxy.google.com/~r/RedeemingRiches/~3/GIrDalHL_Q0/" rel="nofollow">10 Frugal Gift Ideas Under $10</a> =-. Great post! Just goes to show the power of saving early and saving often! It’s amazing what a small percentage of your income saved can do over a long period of time.

BTW – the site looks GREAT! Nice job!
.-= Jason @ Redeeming Riches´s last blog ..10 Frugal Gift Ideas Under $10 =-.

]]> By: Personal Finance Buzz http://www.moneyhelpforchristians.com/how-to-become-a-millionaire/comment-page-1/#comment-1204 Personal Finance Buzz Tue, 22 Dec 2009 12:08:27 +0000 http://www.moneyhelpforchristians.com/how-to-become-an-accidental-millionaire/#comment-1204 <strong>Personal Finance Buzz...</strong> Your story was featured in Personal Finance Buzz! Please visit and promote your article.... Personal Finance Buzz…

Your story was featured in Personal Finance Buzz! Please visit and promote your article….

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