How can saving a few dollars a day make you a millionaire?
I've heard tha saving at least S$10 a day would make me a millionaire. I am very interested to know why and if this is actually true. I've done my computation and it's really hard to fathom how this would make me a millinaire. Do I just keep saving the money or should I invest the money that I saved?
This is a long term commitment and it is possible. Assuming that you're a normal person that worked at the age of 25 and retires at the age of 60. Saving $10 a day would give you 10x365x40 which totals to S$146,000. Investing your savings on stocks, bonds and fixed deposits would help you increase your savings by 10 folds which would bring you upto over a million dollars.