Who wants to be a millionaire?


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On average, Aussie households save just 2.1 per cent of their disposable income, down from 8.43 per cent in 2011. This equates to just $1,528, on average, a year per household.


How to become a millionaire if you save $1,000 per month. Finder calculates that starting with saving $1,000 a month today, you could become a millionaire by 2061.


This assumes you are starting from scratch and you are able to contribute $1,000 into a savings account, with a 3 per cent interest rate – one of the highest ongoing savings rates available.


If you can’t wait that long, you would could reach the magic million in 20 years by lifting your savings to $2000 a month, or 16 years at $3000 a month.


Article source: https://www.watoday.com.au/national/act/tenders-wanted-for-west-basin-planning-and-design-20190315-p514io.html?ref=rss&utm_medium=rss&utm_source=rss_feed

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