You, too, can be a millionaire
Write- up taken from “THE WEEK” dated August 18/August 25,2017, page 37.
You, too, can be a millionaire
“Your odds of becoming a millionaire aren’t what they used to be – they are better,” said Sandra Block in Kiplinger.com. A record 10.8 million U.S. households had a net worth of $1 million or more at the end of 2016, and many of those newly minted millionaires appear to be self-made. In a survey of households with investment portfolios worth $3 million or more, only 10 percent credited to inheritance for their wealth, while 52 percent cited income from a job or business and 32 percent credited investments. Want to get there? Financial planners say “lifestyle creep” is “one of the biggest barriers to reaching the $1 million milestone.” Avoid the temptation to spend that raise or bonus on a bigger house or a nicer car, by dedicating a specific percentage of each paycheck to savings. “The sooner you start saving, the less you will have to put aside each month.”
My sincere wishes are that each and every one of you become a millionaire. Understanding Statistics will help you reach that goal. It will help you find a better paying job and help you save more in the process. Please share this with others.
Christy is a graduate of the Biden School of Public Policy and Administration at the University of Delaware with a master's in Public Administration. She is the chief operating officer of a local non-profit, 3B Brae’s Brown Bags and a Communications Specialist for the University of Delaware. Her research interests include issues of social justice, such as nutritional insecurity, community re-entry, and domestic violence. She also volunteers with her local school district and has a deep passion for education policy, as she believes many social injustices stem from inequitable opportunities in education.