Real Estate Wealth and Saving For Retirement?

Here's a shocker...take your present age and subtract it from 67.

(Mine is 67 - 47 = 20 years)

That means I have 20 years left until retirement age - what's yours? To most Americans, amazingly - even if you DON'T have a dime saved right now - you can easily retire wealthy if you can just start a monthly savings/investment plan now! Here's all you need to save per month to become a millionaire in 20 years...

Savings start date: 7-1-2008
Balance on start date: $0
Number of years to save: 20
Rate of return: 8%

To earn: $250,000 You will need to save (deposit) $425 per month.
To earn: $500,000 You will need to save (deposit) $960 per month.
To earn: $1,000,000 You will need to save (deposit) $1,920 per month.

No matter what or how weak/bad your current savings plan is - this clearly shows that you can earn a half-million by merely depositing $960 a month and earning an 8% return for 20 years! Most people will also pay off their houses, helping them earn an additional $175,000 to $300,000 (national averages.)

Most Americans can trim their current budgets NOW and begin a savings program to deposit that amount...especially couples. Don't forget...

At retirement age, around 67 years old - you can live off of your interest profit (assume 10%) which is $50,000 a year (or $4166 a month,) without touching your $500,000 principle amount. By retirement age, you should have a house paid off and relatively 'little' to no credit card debt or car payments - making $4166 a very nice monthly living until they throw dirt on you! Many people, however, will simply NOT be able to set aside any money for retirement - and will have to rely SOLELY on Social Security. In my opinion, I don't think Social Security will be solvent or even available in 20-25 years...so you better start saving now! Or, stop renting and buy Denver real estate, Littleton real estate - or Highlands Ranch homes for sale!

With all the "doom & gloom" right now with our U.S. economy, it's really NOT that bad after all - as most people can put aside $425 a month and earn a quarter of a million dollars in 20 years. Or you might think about accelerating paying off your present mortgage faster - if you plan on living in your present house forever. Read more on that here - as you can easily pay off your present home loan in 5-12 years... http://www.jeffboyce.net/home-ownership-accelerator-loan-.html