The Wall Street Journal reported this week that the USA now has 7,500,000 households, that have a net worth of over $1,000,000.00. It broke the record of 7,1000,000 in the USA in 1999, when Bill Clinton was President.
740,000 U.S. households have a net worth of $5,000,000 or more. This represents an increase of 38% in one year.
A few years ago, I published an article on how to become a millionaire. One of the main points was to "save 10% of every dollar you make and invest it in better than average investments". I found a box of those little booklets recently and have given away thousands of them.
Putting aside a percentage of all that you make, in an investment yielding 14% annually, will accumulate faster than you might imagine. Test the math. If you put $100,000 in the financial institution, add $7,000 per year to it, and let it earn 14% a year, look at the value:
- End of year one: $114,000.00
- Year 2: $152,920
- Year 3: $182,308
- Year 4: $215,811
- Year 5: $254,004
- Year 6: $297,544
- Year 7: $347,180
- Year 8: $403,765
- Year 9: $468,272
- Year 10: $541,810
By the end of the 15th year, your account will have a value of $1,095,954.00. And that is if you only save an additonal $7,000 per year! If you can save more per year, you can reduce the time it takes to become a million down to 8 or 9 years depending upon the amount you deposit! The real value is, that we look for sectors of the economy that show safety and offer higher than average returns on investment.
Perhaps some of the opportunites we have identified are appropriate for you. We circle the globe to find new and interesting investments, and share them with our inner circle of "qualified" VIP's. We often have information on investment opportunities. We also know and are privy to growth areas, development opportunities and the "Winners and Losers" in this Global Economy. Someone called me: "A Visionary". This I can say. Most of the time, when I see a trend or a solid economic direction emerging, my advice has been right on target.
I (Ben Boothe) have managed money all of my life. I have run bank trust departments, been in charge of hundreds of trusts, estates, foundations and corporate funds. As a bank president I was responsible for millions of dollars every day. I have owned businesses in America and other nations.
I can tell you that simple common sense and stable savings is still of more merit than many of the complicated systems we have seen. Also, I am a believer in saving taxes ethically and legally when you can. Saving a dollar in taxes is like making two dollars in the work place.