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How to Save a Million Dollars

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14 pages7 minutes

Summary

Note: this is a subset (one of the ten lessons) of the book, “Save a Million Dollars and Retire Early”; this subset is offered to readers as an option to break the overall book into smaller sections; the reader is encouraged to use the overall book for a more comprehensive approach

How to Save a Million Dollars

Purpose

The purpose of this lesson is to inspire your hard work. It also puts perspective on the amount of savings and time needed to achieve significant levels of wealth.

Introduction

If you’re trying to save a specific amount of money – let’s say a million dollars – you’ll need to know the most important factors that go into the time value of money equation. That’s the equation that basically states money can grow over time and become more money. The main factors in the time value of money equation are amount of money saved, time frame of money growth and growth rate. Let’s look at each one.

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