Name: How To Become a Millionaire With $5 a Day
Uploaded: 2021-02-13T19:15:52.000Z
Duration: 9 min 30 s
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How to become a millionaire with 5 dollars a day

This graph from the congressional budget office illustrates why millennials are financially

It shows how much inflation-adjusted GDP per person grew during each generation's 15

years in the workplace starting at age 18.

The GI generation had the highest level of growth at 60 percent.

That's when America, as we know it today, was formed.

Even the FED was created during that period.

They are followed by the boomers and generation X by a huge difference.

However, that's still significantly higher if you compare that to the millennials, us,

those who are born between in 1981 to 1996.

It is supposed to be the other way around because we live in this technologically advanced

society that people just 50 years ago couldn't imagine.

We have things like the internet, cyptoes, online banks, overnight shipping, youtube,

and a thing called google that can literally answer any of your questions in a few seconds.

In fact, if you take a look at the pre-pandemic employment rate.

At the beginning of 2019, millennials became the largest generation in the United States'

But yet, 60 percent of American adults don't even have an extra thousand dollars in case

If you take into account that the student debt has exceeded 1.5 trillion dollars, which

It becomes crystally clear why millennials are totally screwed to the point where we

Even if You want to buy a budget car just to be able to drive around, you have to get

into debt that will take you many years to pay off, and you will be lucky if you pay

Even judging by the comments you guys write where you say that you are working day and

night at two jobs and you still can't save a thousand dollars a month.

I truly understand your circumstances because I have been in such a position in my life,

In fact, saving enough money to retire is a horrible strategy because it will never

So let's find out why you will never become rich by saving money?

What is the ideal strategy for financial freedom?

And how can you become a millionaire with just 5 dollars a day?

Yes, you heard that right, with just 5 dollars a day!

So give this video thumbs up, and let's get right into it!

  The most famous financial advice your probably

Every dollar that isn't spent today is a dollar worth less tomorrow.

Suppose you do your best and save a million dollars for your retirement.

In that case, that million dollars isn't going to worth a million dollars but rather much

less, especially if we are talking about a long period such as 20 or 30 years.

Have you paid attention to how prices rise every year?

Well, over 20 years, for example, that small difference is going to compound and reduce

the real value of your money by a third or half. 

Retiring with a million dollars might seem great today, but 20 or 30 years from now,

The federal reserve targets the inflation rate of 2 to 3 percent in the US, so you need

to grow your money by at least 2 or 3 percent to maintain your savings' real value. 

The ideal place is a saving account, right?

The bank is going to pay you interest for keeping your money in that bank, and on top

of that, you can withdraw your money in case of an emergency. 

Let's take a look at how much interest you can expect from the banks. 

You are not getting even close to 1 percent, especially since the fed had lowered interest

Let's assume hypothetically that you could get 1% interest on your savings.

The inflation is 2 percent, you are still losing money every single year.

Of course, not as much as if you kept your money under your mattress, nonetheless you

The only reason that makes sense to save money is to create an extra source of income.

Instead of saving a million dollars, how about buying real estate worth a million dollars.

Of course, house prices don't rise as much, but they steal coupe up with the inflation.

The interesting part is, they provide you with a constant passive income of 6,7 or 8

Since rent prices also rise together with inflation, you don't have to worry about it

since your rental income will keep rising as well. 

So, let's try to answer the question of this video, can you become a millionaire with just

At first glance, it seems like a dumb idea.

Five dollars is the price of your Starbucks coffee.

Even if you cut your Starbucks latte and make your own coffee at home to save 5 dollars

Nowhere close to a million dollars, nor is it going to provide you with a decent retirement.

Five dollars a day is $150 a month or $1825 dollars a year.

According to our YouTube analytics, most of you are between 18 and 35, so Assuming you

are 24 years old and you plan to retire at 67.

If you save 5 dollars for the next 43 years, you will save a total of 77 400 dollars.

That's not impressive as impressive as you thought, right?!

especially if you consider that $77K will be worth a lot less 43 years down the road

I guess spending five bucks on a Starbucks coffee is a better option.

However, instead of saving that 5 dollars under your mattress, investing it the sp500,

for example, that grows at an average rate of 10 parents in the long run, through the

power of compound interest, it will grow to over a million dollar during the same period.

Imagine what you can do with more than 5 dollars. 

So, can you become a millionaire with 5 dollars a day?

It's going to take you a long time, but it's impossible.

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