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Become a Millionaire!

Posted on May 26, 2008 at 1:44 pm 
Filed Under Financial Planning, Investment Planning, Retirement Planning

An article was recently published at www.cnnmoney.com sharing the story of two US Army Captains.

Although this story is US based, it is amazing to see how relatively simple it can be to become a Millionaire. In the article we learn about two Captains who have decided to live off one of their salaries and invest the other so that they can retire as Millionaires. It may sound tough to do, but as you read you will notice that it really isn’t all that complicated. In fact, they spend $800 a month on entertainment and “going out” and even own a small plane that they are restoring. Doesn’t sound too bad does it?

Your Take-Away: You CAN have your cake and eat it too. After all, their family income is not necessarily huge, but they have chosen to make the right decisions with what they have to work with. If we can learn anything from this article, start wtih this:

  1. Define your goals clearly
  2. Make your savings plan automatic
  3. Find a balance and enjoy life as much as possible

As one of my closest friends says, “it’s all about the memories”. After all, what’s the point of having money if you aren’t enjoying it, and I would venture to say that this young couple has found a balance that works perfectly for the two of them. What is the perfect balance between saving and spending for you?

Until next time, have a Magnificent Monday!

Chris & Elisseos

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