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Achieving a million ringgit by age 55...



Do you know the important of saving? I do, but I do not exactly practiced it, until recently.  Maybe I do not realized how really important for me to do saving. This is the table that I got from reading Azizi Ali’s book  ‘ Millionaires are from a different planet’.

The table shows how you can have a million ringgit assuming of 9% annual return every year.

Age
Monthly Savings (RM)
Interest (%)
Total Earnings (RM)
20
340
9
1 million
30
892
9
1 million
40
2,643
9
1 million
50
13,258
9
1 million

But I’m 27 now… and I do not think I save that much amount of money every month. I’m 27, so the money I need to save is around 700 per month?.... wow, then I have to live frugally if I want to. That means, selling my car, and change to a more affordable car, finding a housemate, earn extra money, like doing tuition, writing, and maybe helps my father at the farm so he can give me some money. What a good daughter,  asking pay for helping her own parents.

But I do really want to be a millionaire. Who doesn't?


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