| Before you become engaged, decide together to | | | | own children. What a blessing that would be |
| become financially free. These are the | | | | for your family - and the nation! |
| easiest ways to become a multimillionaire! | | | | |
| There is power when money makes money! | | | | Another choice would be to keep the interest |
| Compounding is earning interest on the | | | | invested and compounding and in 14 short |
| principal and the accumulating interest. | | | | years (20 years total), your investment from |
| | | | six year's salary would be worth $1.8 |
| Reduce the Cost of Your Wedding | | | | million. Now that's exciting! |
| | | | |
| Forty-five billion dollars was spent on | | | | 401(k) Investment Program |
| weddings in 2004. In the United States, the | | | | |
| average cost of a wedding on the east and | | | | The value of a 401(k) investment program is |
| west coasts is $38,000; the national average | | | | so awesome, that when you and your spouse |
| is $26,000. The bridal gown and reception | | | | graduate from college, I urge you to consider |
| generally are the most expensive items. | | | | the following: |
| | | | |
| After receiving my masters, my first job was | | | | * Select the best job which has the best |
| the director of a college food service. | | | | 401(k) plan and contribute 100% to your plan. |
| During those four years, my associates and I | | | | Remember, 80% of all companies offer a 401(k) |
| became well-known for the gorgeous wedding | | | | plan and 50% of those will contribute to your |
| receptions we would create. From all my | | | | plan-free money for you. |
| experience, you can have an eloquent wedding | | | | |
| for thousands less than the national average. | | | | * Live as close to your job as possible in |
| | | | order to reduce your commute time, automobile |
| If you and your fiancé have the goal to be | | | | expenses, and the wear and tear on yourself. |
| financially free, spend less and still have | | | | Choose to be rested and to spend lots of |
| an awesome wedding. Be creative! Purchase the | | | | quality time together, rather than in |
| book A Simply Beautiful Wedding by Eileen | | | | commuter traffic. |
| Silva Kindig. It shows how to have a | | | | |
| magnificent wedding for much less so that you | | | | Let me blow your mind! You can have |
| will have a sizeable nest egg to start or | | | | $1,889,888 in 20 years with a yearly cost of |
| continue with your investment program. If you | | | | only $5,700. "How's that possible?" |
| save $15,000 on your wedding and invest it, | | | | |
| in just 30 years you would have almost $1 | | | | First, assume you fully contribute to a |
| million! Leave it alone and in 10 more years | | | | 401(k) for 20 years. Remember, you are not |
| you would have over $4 million! | | | | out-of-pocket the full $15,000. Your employer |
| | | | contributes $5,000 per year. And, if you are |
| Reduce Your Taxes - Legally | | | | in the 43% federal and state income tax |
| | | | bracket, the government reduces your taxes by |
| Another major way to become a millionaire is | | | | $4,300 a year. So, instead of $15,000, you |
| to reduce your income tax and invest the tax | | | | are only out of pocket $5,700 per year. |
| savings yourself. The average household | | | | |
| spends $18,750 in taxes per year. Reduce them | | | | Just think, as a payroll deduction each |
| in half and invest the $9,375. Chapter 16 in | | | | paycheck, in 20 years you will have invested |
| 80 Proven Ways to Become a Millionaire is | | | | out-of-pocket only $114,000 ($5,700 per year) |
| devoted to this topic in detail. In addition, | | | | while the investment increased to $1,889,888 |
| the Appendix has 2000 Ways to Lower Income | | | | ($15,000 invested per year). |
| Taxes. | | | | |
| | | | And when you are married, each of you can |
| First invest in your 401(k) and other pension | | | | contribute $15,000 per year to a 401(k) so |
| plans. Then start a home business, even if | | | | you can double the investment returns shown. |
| it's part-time, as it will allow you to take | | | | |
| advantage of many tax savings. | | | | Free Money - Invest Semimonthly Versus |
| | | | Annually |
| For 25 years, I owned several farms in | | | | |
| Vermont while I lived and worked in | | | | Another gigantic aspect of the miracle of |
| California. Those farms gave me excellent | | | | compound interest is the free money you can |
| income-tax deductions, making it possible to | | | | make if you invest semimonthly or monthly |
| legally reduce my income taxes. Instead of | | | | instead of yearly. |
| paying unnecessary income tax, I invested | | | | |
| that money. Yes, and I still paid my fair | | | | For example - invest your payroll deduction |
| share of taxes. Did you know there are 72 | | | | ($625 semimonthly)/20 years and you will have |
| different taxes in a loaf of bread? | | | | $1,889,888. Invest $15,000 once per year/20 |
| | | | years and you will have $1,767,152. The |
| Eliminate Paying Interest | | | | difference is added investment income - |
| | | | $122,736. Look at what consistent investing |
| When you pay interest on loans and credit | | | | means to your wealth creation and financial |
| cards others become millionaires instead of | | | | freedom. Take $122,736 and divide by 20 |
| yourself. The only interest you should ever | | | | (number of years). This gives you $6,136 |
| pay for is for investments-period! It is tax | | | | extra, free money per year invested! |
| deductible and will save you money, so you | | | | |
| will have more to invest. For everything | | | | This is the power of money making money! |
| else, pay cash. See how simple it is to | | | | Compounding is earning interest on the |
| become debt-free in Chapter 8. | | | | principal and the accumulating interest. |
| | | | |
| Before my dear, beautiful girlfriend and I | | | | Remember that Wealth is a Matter of Choice - |
| were married, we agreed to pay interest only | | | | Yours Alone. Choose today to become a |
| on money for investments. Now decades later, | | | | millionaire, to focus on your wealth |
| no interest was ever paid. You can choose to | | | | creation, to create a life you love for you |
| do the same whether married or not. | | | | and your loved ones. |
| | | | |
| The average household spends (actually | | | | NOTE: This article is designed to inspire you |
| wastes) $10,875 interest per year on 14.2 | | | | into action and to provide accurate and |
| credit cards and loans. Keep this money and | | | | authoritative information in regard to the |
| invest it for yourself. In 20 years the total | | | | subject matter covered. Factual material has |
| invested is only $217,500 and you will have | | | | been obtained from sources believed to be |
| over $1 million. Continue for another 10 | | | | reliable, and is not guaranteed. All examples |
| years and you will have over $5 million with | | | | are for illustrative purposes only and are |
| only $326,250 invested. WOW, the power of | | | | not to be construed as recommendations, |
| compounding interest! | | | | advice, or tax counsel. The author is not |
| | | | engaged in rendering legal, accounting, or |
| Invest Second Salary | | | | other professional service. If legal or other |
| | | | expert assistance is required, the author |
| I strongly recommend waiting six years before | | | | strongly recommends that the reader should |
| having children. (Chapter 3 of 80 Proven Ways | | | | contact his own professional advisors. |
| to Become a Millionaire covers this in great | | | | |
| detail.) By doing so, both husband and wife | | | | Past performance should not be taken as being |
| can work full-time. Choose to live on one | | | | representative of future results. Anything |
| salary and invest the entire other salary. In | | | | tax-related should be discussed with your |
| six years you will have $261,737 and a couple | | | | accountant before it is used for tax |
| of choices. | | | | purposes. All information provided in this |
| | | | article is for informational purposes only. |
| You could choose to have a perpetual income | | | | |
| of $39,261 created from the interest and | | | | (Reprinted with permission from 80 Proven |
| dividends so you can stay home and raise your | | | | Ways to Become A Millionaire by Paul S. |