Reported 8 months ago
Ramit Sethi, the author of 'I Will Teach You to Be Rich,' shares a simple yet powerful strategy for financial success: invest 10% of your salary every year and increase by 1% annually to become a multimillionaire. He emphasizes saving 10% and investing 20% of gross income, starting after building an emergency fund and moving to a high-yield savings account. Sethi acknowledges the challenge for some to save immediately and suggests starting with a lower percentage, gradually increasing it yearly. He recommends investing in low-cost index funds through 401(k) and Roth IRA accounts, highlighting companies like Vanguard, T. Rowe Price, and TIAA for their low fees and good customer service.
Source: YAHOO