How to become a millionaire

We all hope to be rich one day, but we all don't make a million dollars. With the right tools, it is not hard to achieve a million dollars overtime. Some people do it through real estate, others start their own business, while some simply get lucky by winning the lottery or winning big on a game show. Here are some tips below on to increase your wealth to a million

Step1 *Save vs. Spending*
If we take the time to save more as oppose to spend our money on unnecessary stuff we do not really want, then this is the best start to a brighter future.

No matter how small it is , we need to save a part of a salary , an average of 10% will eventually build up. For example 10% of $2000= 200 per month, which is $2400 in a year. In 10 years that is $24,000
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Step2 *Retirement funds*
As young people, you need to save for retirement and one of the best way to do so is through a retirement fund. 401(k) and IRA.

For example if are 23 years and deposit $250 per month, at 8% average annual return by the time you retire at age 65 you will have saved $985,749
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Step3 *Invest*
You can buy shares online for as little as $4 per share from online brokers , such as sharebuilder.

Do automatic investment by setting up a regular deposit to a mutual fund or broker. There are many ways to invest, and as long as you make wise investment decisions and let time and compound interest work for you, you will be successful.