Celebrating Apple's $1 trillion mark with the Millionaire Plan

Celebrating Apple's $1 trillion mark with...How you can become a millionaire within 25 years  

Bottom Line: On back of Apple's $1 trillion valuation and added attention to stock market investing – I thought it opportune to break out my millionaire plan.  

It is absolutely true that the average American, making the average full-time income can become a millionaire within 25 years & even own a home in the process.  It’s just math and a little dedication.    

  • Average full-time salary: $48,000   

  • Average net effective tax rate for that salary is 5%     

  • Net take home pay is $45600 or $3800 per month   

  • Average monthly mortgage payment is $1150 leaving $2650 for everything else   

Now, if you want to be a millionaire take $1000 per month and invest wisely investments and voila…  On average you’ll be a millionaire within 25 years.  How?   

The average rate of return in the stock market (S&P 500) is 10% historically, so after 25 years at an average rate of return you’ll have: $1,298,181  

It's important to note that the $1000 per month is an "all-in" number. So, for example, if you have an employer that provides a company match on a 401k plan – that counts. Occasionally some people will say it’s just not possible or call me an elitist for suggesting that coming up with one thousand per month is doable. For those who throw up barriers or make excuses – it’s true you won’t ever achieve elevated financial status and reach loftier goals. For the average person in the workforce with dedication and a little good fortune along the way…It’s absolutely possible.    

Further reinforcing the point that it's more about saving and investing wisely over the years...The average household income of the American millionaire is currently $93,000. That is significantly higher than the average household income of $54,500 but it's still not an exponential or unrealistic number for most motivated people. The biggest reason why people don't reach their financial goals is their decision making - not because they can't.  

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