The Widlunds Grow Their Income
The Oprah Winfrey Show | January 01, 2006
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Money coach Glinda Bridgforth says Marnie and Mark 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 $4,000 they can invest at an annual interest rate of 8 percent. In 30 years, they will have saved half a million dollars! Extra income = $12,000 Extra income after taxes = $8,000 Invest 1/2 annually = $4,000 30 years at 8% = $500,000 With their daughters taking on more financial responsibility and their relationship back on track, the Widlunds say being on the Debt Diet has changed their dynamic. "Absolutely," says Marnie. "The marriage is a team." More from Oprah's Debt Diet |
