Becoming a millionaire can seem like a pretty lofty goal — or even just a fantasy — but according to financial adviser David Bach in his book “Smart Couples Finish Rich,” all it takes is a little planning.
This story originally appeared on Simplemost.com
It might seem impossible, but starting off saving just $2 a day when you’re 20 or $20.55 when you are 40 can get you to be a millionaire by the time you’re 65.
According to Bach, the key to getting rich is sticking to a savings and investment plan as early as you can. So how exactly will $2 a day get you to be a millionaire in time for retirement? Bach created a chart, which Business Insider recreated, to illustrate how you can build your wealth over the years.
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The chart assumes you start with no money invested, and it assumes a 12 percent annual return. It may not be perfectly accurate, but it can give you an idea of what a few dollars a day can do.
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So next time you’re thinking of getting that coffee or green juice, you might want to consider setting that money aside instead — it will definitely pay off later.
