Big Steps for the Bradleys
The Oprah Winfrey Show | January 01, 2006
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Money coach Jean Chatzky says the Bradleys will be well on their way to becoming millionaires if they pay themselves first and invest half of their additional income each year. After taxes, that comes down to about $12,000 that the couple can invest. At an annual interest rate of 8 percent, in 30 years, the Bradleys will have saved $1.5 million! Extra income = $33,000 Extra income after taxes = $24,000 Invest 1/2 annually = $12,000 30 years at 8% = $1.5 million A stronger marriage and a bright future in savings give the Bradleys a lot to smile about. "I think we had lost each other by focusing so much on the money and the stress of the money, and it's like we've come back to each other now," says Lisa. More from Oprah's Debt Diet |
