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If you're anything like us, we're sure you find yourself sitting at your desk wallowing away over the daily grind, pondering over the same pipe dream day in and day out — becoming a freakin' millionaire. Question is, are there proper guidelines on how to become a millionaire?
There's really just so many talking points surrounding the subject —how to become a millionaire overnight, how to become a millionaire with no money, how to become a millionaire by the time you're 30. The list is nothing, if not frustratingly endless.
Fortunately, as with most dilemmas, the directions on how to become a millionaire can be found right here on the good ol' internet. Yep, it's not just good for your adult movie addiction. As per CNBC:
"We used CNN Money's helpful millionaire calculator to estimate when you'll become a millionaire if you're able to contribute $500 to an investment account each month, assuming that you're starting from scratch with zero savings."
The results weren't as dismal as we thought they'd be. In fact, with the proper percent rate of return, you can actually become a millionaire before it's time to start relying on viagra in the bedroom. Er, actually we suppose that depends on how old you are now, but we digress.
Using CNN's money calculator, these were the results based on staggering rates of return. Of course, the higher the return, the faster you become the next Bill Gates. Well, Bill Gates-ish.
With a 4 percent rate of return, you'll become a millionaire in 51 years, by 2068.
With a 6 percent rate of return, you'll become a millionaire in 40 years, by 2057.
With an 8 percent rate of return, you'll become a millionaire in 33 years, by 2050.
With a 10 percent rate of return, you'll become a millionaire in 29 years, by 2046.
If those figures are too slow moving and you have the means to invest more than $500, by all means, do so! If you happen to have $6,000 a month laying around — you can be a millionaire in 10 short years.
Image Via Getty
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