You Can Become a Millionaire Earning $30,000 a Year
Let's say at age 25; you begin earning $30,000 annually. That’s an income of $2,500 per month, before taxes and deductions. You should be able to save $458.33 per month and spend the other $2,000. Remember, this is a savings rate of less than 20 percent of your gross income. Your savings of $458.33 per month amounts to $5,500 per year.
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