Five Steps for Women in Their Twenties to Become Millionaires

If you're a woman in your twenties who wants to be a millionaire before that finance bro sitting next to you, you need to do the following five things right now. I'm Tyler, a former financial advisor and portfolio manager. Now I make financial content for free so you don't have to pay for it.

1. Open a Brokerage Account or Roth IRA

Start by opening a brokerage account or a Roth IRA. You can do this through Fidelity, Vanguard, or Schwab. It’ll take you about 10 minutes and it's free!

2. Link Your Bank Account

Now link your bank account to the brokerage or the Roth so you can set up automatic transfers.

3. Commit to Funding the Account

Commit to funding the account with $3.47 a day. It doesn't have to be a daily thing, but here's the point: if you wait until you're 30, now you’ve got to do $9.20 a day. And if you wait until you're 40, it’s $25.33 a day. See where I'm going with this? Time is literally money.

4. Invest in Low-Cost Index Funds

Once you've funded the account, invest the money in low-cost index funds like Vanguard's VOO or Schwab's SWPPX. These funds are low-cost, and you now own pieces of the world's most profitable and stable companies like Nvidia, Amazon, and Meta.

5. Sit Back and Relax

Now sit back and relax knowing that you've just automated a process that will most likely make you a millionaire in retirement without you ever having to do another thing again.

Conclusion

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