What's the easiest way I can I become a millionaire?

[peanuts]

It's been a year since I asked this question. I'm still living with my parents and they are still arguing about money. I'm in my last year of high school. I've manages to save $2000 over the last year. Is that enough to begin investing. It's currently in a savings account.

[corn18]

That is enough to start investing. But maybe it would be better used as an emergency fund and then start taking 10% out of every paycheck and have that automatically go into an investment/mutual fund or even an IRA. Then you will get used to the idea of paying yourself first. Continue that for the rest of your working life and you will never have to ask if you have enough to retire.

[Goldy]

It's been a year since I asked this question. I'm still living with my parents and they are still arguing about money. I'm in my last year of high school. I've manages to save $2000 over the last year. Is that enough to begin investing. It's currently in a savings account.

I started my first Roth IRA with $2,000 at the age of 17 and it was one of the best decisions I have made. Each year since then I have made an effort to invest in it and once I landed into my career I maxed it out whenever I could. 12 years later my wife and I just eclipsed the half million dollar mark for retirement savings.

If I were to do it all over again I would throw as much as I could into the account as early as I could and just watch it grow.

[krantcents]

First, there is no easy way! You can start with saving your earnings and investing. At your age, you can pick a broad diversified index fund similar to Vanguard's total stock market index for example.

[snafu]

peanuts, thanks for the update. Good on you for saving $ 2,000. How much did you earn in total 2014? What percentage of income have you managed to save? I hope you'll explore opening an account at Vanguard, it's a big Mutual Fund company best known for low fees charged to clients. There is a basic sum required to open an account and they have a Dollar Cost Averaging [DCA] program which has you adding a specific sum like $ 100. each and every month to your account.

It's a lot to explain and you might find it easiest to read their specific outlines. The money you put in now will grow and grow and grow. Some months it will drop a bit as the value of the stick market goes up [mostly] but it also goes down. Over the long term...history shows huge increases in value.

We're happy to walk you through the different processes, answer questions and offer pros and cons on your ideas.

[greatm31]

My advice is: invest in yourself. Get a good education. And I don't just mean going to class: I mean pick up some cool, useful skills (especially: PROGRAMMING!). The hobbies and side projects you work on now, while you have a lot of free time (trust me you have a lot of it!) can open up incredible opportunities down the line!

[JudyDunlow]

haha, this thread topic made me chuckle. this is the "million dollar question" that everyone wants to know!

my advice: stay out of debt, invest early and often, live within your means, give, work hard, be smart.

[LeanneRob]

Firstly, it most likely won't be easy unless you win the lottery.

Secondly, don't focus on being a millionaire. Start a business and have an exit strategy from the start - Think about selling the business in the future before you even start.

[annatamm]

saying

I just want to have enough money so that I'm not constantly arguing about it like my parents.

have you heard the saying - You Won't Get Rich Working (for Somebody Else)

[annatamm]

The words "easiest" and "millionaire" do not belong in the same sentence. Starting from scratch and working your way to a millionaire is never going to be easy. It will take a lot of work and dedication. If you want to be a millionaire it takes a few things, mindset and dedication are two of those things.

-Emzie

Amen

[doingitallwrong]

Start out a billionaire.

[williamsnancy]

Of course you can become millionaire an easy way. But there is no such thing as easy AND fast millionaire. You have to choose your priorities

I agree, you have to choose your priorities first and you need to have a strong commitment.

[SandraGenJobs]

What's the easiest way I can I become a millionaire?

If you want to be a millionaire the first thing to do is setting your goals. That means no settling for less. You're sixteen and you have all the time in the world to figure out what you want to do in the future and this is the perfect time to start figuring out your skills and talents. Learn about the way the market works. And lastly, if you want a quick tip on how to earn money, find out what successful people are doing and offering and then do the same for 10% less

[chessie21]

stay focused

I am gonna say find a way to make 200 dollars a day and save it.500 X31=15,000 do this for 3 years you will have half million. =540,000 . you are half way to a million. Put 500 dollars away everyday if you have great job. or you can get you a business.

[electric_mikey]

Start out a billionaire.

hahaha, this cracked me up.

but in all seriousness, there are no EASY ways. unless you win the lottery etc.