New Year Resolution: Help your kids to become millionaire comfortably

As we come into the last week of the year and the new year is just around the corner, many of us will make some new year's resolutions. From the family financial perspective, one resolution may need to be on the top of anything else for everyone who would like to see a successful and financially relaxing life for their kids. That's why I'd like to share this good paper with you that may assist you to help your kids to become millionaire stress-free, if you can help them to start as early as possible! For me, our son has already grown up with his own established career. My new year resolution is to help him to start up his own business in the investing field that may help him and his own family to accelerate the process to reach the goal of  financial freedom as early as possible. ✌😇   Here's How Much You Need to Save Every Day to Be a Millionaire Matthew Carr

To me, time is the most precious commodity there is. On a universal scale, it's infinite. But on an individual level - a human level - time is very finite. If we're lucky, we get maybe 90 years. And if we're very lucky, the last decade isn't one of suffering and rapid decline. That's why I don't believe in wasting time. I don't believe in wasting my life. I want to spend it doing things I love in the company of people I want to be with. In investing, time is more powerful than any strategy... any boom-and-bust cycle... or anything else you can imagine. Over time, mountains will erode to dust. But in the markets, time will transform the smallest start into a mountain of wealth. Let this sink in, and share it with your children and grandchildren... Starting at 20 years old, how much do you need to tuck away per day to become a millionaire by 65? Two dollars. Isn't that ridiculous? All it takes is $2 per day. Just $730 per year. Now, that needs to be invested and earn 12% a year. But my goal here is to show how little you need to start with... Two dollars. That's two items from McDonald's Dollar Menu set aside each day. That's a Powerball ticket per day, with far better odds of becoming a millionaire. I often hear the complaints, "Oh, I'll start saving when I make more money..." or "I plan to start soon..." But the longer you put it off, the worse it becomes. The median annual salary for Americans ages 15 to 24 is $43,531. To become a millionaire by 65, a person has to put away less than 2% of their annual salary when they start out... and that percentage shrinks over time as their salary increases. Let's compare that with the other end of the spectrum... If you started saving at age 55, you'd have to save and invest $156.12 per day to become a millionaire by 65. That's $56,984 per year! The median household income for Americans ages 55 to 64 is $68,951 per year. So if you started saving at 55, you'd have to set aside and invest 83% of your annual salary... every single year. Every time I hear someone say, "I'll start investing in a couple of years when I have more money," I tell them they're only hurting themselves. The longer you wait - the more time you waste - the more expensive it becomes. Here's how much you must save and invest, starting at various ages (in five-year increments), to become a millionaire by 65... Just think, to become a millionaire by 65, the amount you need to put away daily increases 78.5% if you begin saving at age 25 rather than age 20. The difference in daily savings between starting ages of 20 and 55 is 7,706%!