Can 1 Year Make You a Millionaire?
One million dollars is a lot of money. It's around four times as much as the typical household nearing or in retirement is worth, which makes it a great target to attempt to achieve. One of the big challenges most people have with reaching that target, however, is that typical strategies to save up that cool million involve saving a bit each month for decades to get there.
What if there were another way? What if, instead of scrimping and saving for years, you could just make one huge sacrifice to save throughout the course of a single year and simply let that money compound? Could that be enough? Could one-year's worth of sacrifice really be all it takes to make you a millionaire?
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Source Fool.com
