Mika
VIP Contributor
You might have missed a chance to become a millionaire, however, if you act now, you can help your kid become a millionaire 20 years from now. How can you do that? Here is a simple strategy to do it.
Start investing $50 per month when your kid is born and if you continue to invest as long as you live and if your kid also continues investing. Your kid will become a millionaire by the time he reaches 65 years with only a $40 thousand investment. The best time to invest for your kid is to invest on the day they are born. Time is their best asset.
Another strategy is to keep $10000 in a high yield saving account (where you get 10-12 percent interest per year), if you continue keeping that money in the high yield saving account along with the money you receive as interest, in 20 years, your kid will become a millionaire.
Start investing $50 per month when your kid is born and if you continue to invest as long as you live and if your kid also continues investing. Your kid will become a millionaire by the time he reaches 65 years with only a $40 thousand investment. The best time to invest for your kid is to invest on the day they are born. Time is their best asset.
Another strategy is to keep $10000 in a high yield saving account (where you get 10-12 percent interest per year), if you continue keeping that money in the high yield saving account along with the money you receive as interest, in 20 years, your kid will become a millionaire.
