Sun Feb 16 2025, by Tyler Gardner
3 Financial Moves for Millennials to Become Millionaires by 50
If you’re in your 20s, here are the only three financial moves you need to make to be a millionaire by your 50s. I’m Tyler, a former financial advisor and portfolio manager, and now I create financial content for free to help you.
1. Invest in the S&P 500
Invest at least $500 a month in the S&P 500. Historically, the market returns between 7% and 10%. If you start at 25 and do this consistently, you can have over $1 million by age 55.
2. Avoid Financing Unnecessary Expenses
Don’t finance dumb stuff—like car loans, credit card debt, or buy now, pay later traps. That $600 a month car payment could cost you $1.4 million by age 55. Guess that car was more expensive than you thought!
3. Save a Portion of Your Raises
When you get a raise at work, immediately put 50% of that raise towards your investments. Now instead of having $1.1 million or $1.4 million, you’re looking at well over $2 million by age 55. Then you can buy yourself whatever car you want with the interest on those investments alone.
If any of this is helpful, please like and follow, and I'll keep trying to get you one step closer to where you need to be.
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