One of the biggest advantages of joining the military young
is that steady paycheck can help you become a young
military millionaire. There are simple steps that you can
take that will put you on the right track to an early
military retirement.
Attention young military personnel. You can turn that
military paycheck into a million just by following a
simple, consistent, investment plan. Just by automatically
investing on a regular basis you could be on your way to an
early military retirement. For example:
-A $174 invested monthly starting at 18 years old could
make you a young military millionaire by age 53.
-A $701 invested monthly starting at 18 years old could
make you a young military millionaire by age 40.
Knowing how to handle your military money gives you
advantages that the most people miss out on. You can
afford an early military retirement just by following a
simple investment strategy. Starting an investment plan
young may be enough to ensure you become a young military
millionaire.
Becoming a young military millionaire is easy when you
start at a young age because you have the power of
'compounding interest' on your side. Compounding interest
is defined as the interest earned from the initial money
you personally invested from your military money plus the
interest earned from the amount your investments have
already returned. To clarify, the money that you already
made from your investments starts to earn you money. So
year after year you are making money off money you already
made from your investments.
By investing your military paycheck at a young age you are
able to fully harness the power of compounding interest.
This is because you're earning a return (making money) on
what your investments have already paid you. The younger
you start the faster and larger your investment account may
grow. That's why investing while you're young and earning a
steady military paycheck gives you a huge advantage.
1) Save Money. The first step on the road to becoming a
young military millionaire is to set up a simple savings
plan. Pay yourself first by setting money aside into an
investment before you start spending your military money.
The habit of paying yourself first will benefit you
throughout your life and will help you retire young.
2) Invest Young. You may not of been taught how to invest
in high school but don't let that hold you back. There
are simple investments available to the beginner investors
that will get allow you to invest your military money young.
The stock market offers some investment vehicles that are
perfect for the new military investor. There are
lower-risk investments that offer the potential for
long-term gains that may help you to put your military
money to work.
One type of investment, known as broad based market index
investments, may offer you a simple way to get your
military money working for you. 'Broad market index
investments' are simply investments in the overall market
like the NASDQ 100 and S&P 500. For example, you can
invest in all 500 stocks of the S&P 500 with one simple
broad market investment index investment vehicle. The S&P
500 index is one way for the new military investor to
profit from the stock market without having to have a lot
of experience.
3) Consistent Investments. There is a basic military
investment technique called 'dollar cost averaging'. A
dollar cost averaging plan is simply buying a fixed dollar
amount of your broad market index investment at the same
time each month. Your bank and brokerage firm can be
set-up so it automatically invests the amount you want at
the same time each month. Once this structure is set up
you can sit back and just review your monthly statements.
With a consistent military investment plan you could reap
huge profits over a long-term.
The basic investment method discussed will get your
military money working for you. If you're looking to
become a military millionaire young there are other ways
you can increase your returns. The investment vehicles
discussed below take more effort however you will be able
to reach your military millionaire status sooner.
5. Real estate. Real estate investing can be credited with
making the majority of young millionaires. It gives you
the power of leverage so you are making money of money the
bank loaned you. When done right you could expect to
double your investment each year! Just by purchasing real
estate while you're young could easily make you a young
military millionaire.
The military offers many benefits that will allow you to
become a homeowner. VA loans allow you to borrow 100% of
the purchase price which means you won't need money for a
down payment in most cases. Combine that with BAH (Basic
Allowance for Housing) for civilian housing and you can
have your mortgage payments paid for.
This is a huge benefit because you purchase a $100,000 home
your property could be valued at over $570,000 in 30 years.
The best part is using BAH you could of not even made a
payment with your own money.
6. Entrepreneurship. Being in the military you can start a
part-time business that earns you an extra few hundred a
month or one that surpasses your military paycheck. Either
way it can help you to become a young military millionaire
or just added another income so you can invest more. There
are also tax benefits available to business owners that
will keep more of your military paycheck money in your
pocket.
Becoming an entrepreneur can help you become a young
military millionaire and give you the luxury of being able
to retire young.
The sooner you start investing the sooner you can become a
young military millionaire. Start now and the take steps
to become a young military millionaire today!
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Give yourself the freedom that you deserve by learning the
simple military money lessons that will help you afford
what you want now and allow you to retire young. Visit
Vince Shorb's, 'Financially Free by 30' site now at
http://www.FreeBy30.com for free video lessons.
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