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How To $save$ A Million

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Allthingznew

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Aug 26, 2007
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It's slow lane anyway. Don't look for how to save a million in a lifetime, look for how to make a million in a couple years.
 

imirza

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Jul 29, 2007
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I'd rather read an article on how to 'Borrow a Million Dollars ( with no collateral)' . To me Fastlane is all about borrowing tons of money at low rates and investing at higher returns . If you can borrow $100 million imagine how rich you become. Borrow at 10% invest at 20%.
 

andviv

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Jul 27, 2007
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Well, technically they are not lying....

"To reach one million by age 65 you need to save $xxx"

My problem is with the age. Why should I wait till 65 if I could do it this year, or the next one, or in 5 more years? Why do I have to wait 40, 30, 20, even 15 years?
 

Merkin Man

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Jul 25, 2007
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When I read articles like that it makes me want to barf.

:puke:

:slow:
Ah, barf. A word I haven't heard in years!!! Thanks, MJ, for using it! I just flashed back to middle school!!! :hurray:


As for the article, very slowlane stuff. I agree with the notion that I would rather borrow a million and invest it than save it.
 

6.0_bull

New Contributor
Nov 27, 2007
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Its defiantly slow lane ......not for the fast laners!!!

but there is some merit behind it for fastlaners , specially for some of you who have money in a basic low interest bank account and should have it in a managed account F/X etc earning 10-15%monthly instead now start compounding that.....whooohooo real money.

But then again this article in practice is ideal for the 9-5 worker who can manage to save an extra few bucks every month and use the huge leveraging power of compound interest it is a very realistic approach to a comfortable retirement for the 9-5er
 

venom

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Aug 6, 2007
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Well most wont ever make it to the million

The things to consider are the factors involved.
They mention age or time
Then they mention return. They use 8 % .
They only mention increasing the amount invested. The other choice is to increase your return
Now the question is how do you do that ?
Without taking on too much risk.
 

andviv

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well, they imply investing in packaged deals, like mutual funds. you don't have too much control. You are just a passenger. So yes, play it safe so you are not looking for high risk/returns. As you can't control the % of return they tell you to increase the amount.
 

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