How to Make a Million Investing 5 Dollars a Day
You would be surprised about how many ways there are to make a million of dollars. Each of them has its advantages and disadvantages and if you want to become a millionaire, you should choose the one that suits you the best and stick to it. None of the methods is 100% sure, but what is in life? If you want a million you should learn to take reasonable risks! No risk = no profit.
So here is today’s method:
Invest $5 every day and employ the Dogs of the Dow investment strategy. Please note, that this method is a long term one, but it’s easy to follow and requires only some discipline from you. Here is the action plan:
1. Put aside $5 each day
3. After 32 years you can become a millionaire.
Here is how this works
Here is how you can make a million investing $5 dollars daily.
If you can invest $5 each day from your income, you can have $1825 at the end of the first year. That’s still far from a million, but that’s OK. Have you heard about the Dogs of the Dow? This investment strategy has yielded 17.7% on average for the past 45 years. It is based on buying the highest dividends paying stocks from the Dow Jones Industrial Average Index and holding em. Let’s take this return sceptically and fix it at 15% per year. So, saving $5 per day is 1825 per year. Investing that amount at the end of the first year at the rate of 15% and adding to your investment the same at the end of each following years will make you a millionaire in just 32 years. You may say that’s a lot of time, but this is a relatively stable strategy and you don’t really need to do much to achieve your goal. It’s really simple and it’s working. The only thing you should do is to keep putting aside $5 each day and investing it as described above.
This strategy is great for a back up plan. If you want to make a million dollars fast, you could put into work some other shorter term strategies and you can employ this one as a plan B. If the faster ones fail, this one is simple to follow and has high chances for success.