If you are 30 and want to become a millionaire, you must save and invest reasonably for the next 35 years about $450 a month, according to this article by Kiplingers.
Oh really? Among the suggestions to find the extra $450 hanging around is raising your auto insurance deductible to $1,000, buying generic-over-the-counter medicine and taking advantage of tax exemptions.
Out of all the suggestions in the article, I think finding tax exemptions is the one I need to work on the most. Part of me is a little wary of all the paper work, but it’s costing me money in the long run. The suggestions seem pretty sensible. Bringing lunch to work is like the cornerstone of frugality, nowadays.
What would you do to try to become a millionaire, if you aren’t one already? Are you O.K. with bringing your lunch to work everyday? Would you feel comfortable with a $1,000 deductible on your car insurance? My deductible is $500 and I’m at peace with that. Would you buy generic medicine? Or should people simply get better paying jobs or create their own businesses? Talk to me!