How to Accumulate $1 Million Before You Reach 60 Years Old (Without Investing)

It is ridiculously easy to reach $1 million before 60 years old, without even investing. Let me share with you how.

I will be using the following assumptions for my strategy:

  • Start of career age: 21
  • Start of career salary: $4,000 per month
  • Bonus per year: 2 months
  • Annual salary increment: 4%
  • Allocation of total annual salary for retirement: 20%

If you are able to follow the above assumptions, you will earn an annual salary of $56,000 at age 21. This is considered a reasonable amount for most people today. By putting aside 20%, the amount is $11,200. 

On year 2, or age 22, your annual salary should increase to $58,240. And your contribution to your retirement should be $11,648 now. And continue to save.

At age 59, your total amount saved will be $1,012,582. And you’ll become a millionaire without investing a cent.


Author: Zheng Fan Minimalist

I don't want to be different. I want to be me.

4 thoughts on “How to Accumulate $1 Million Before You Reach 60 Years Old (Without Investing)”

  1. Thank you so much for taking my comment unoffensively!!! After I wrote it I thought, ohh I hope this is not taken in a a poor manner. So thank you. And thanks for the thoughts and encouragement on my blog.
    I would love to hear any ideas you can explore that involves health care in the planning of finances. It has been an ongoing frustration, obviously as I have ranted here on your perfectly innocent blog!

    Liked by 1 person

  2. hi bethanyk, i am very happy to have u. i also want you to know that i really appreciate the message that you are spreading in unfortunately, no matter how much we plan in life, we cannot fully avoid all the obstacles being thrown at us. thanks for reminding us what could be lying ahead. moving on, i will continue to explore new ideas, robust ideas that can tackle the issues that you have highlighted.


  3. Unless you become ill . And your daughter becomes ill. And all the money you wanted to invest goes into doctor bills and scans and tests and supplements and any cure available until you’ve spent most of your money on get well plans from well meaning physicians but you are still barely able to function while caring for your sick child as your husband works extra hours to try and fill the gap.
    I know it sounds pessimistic. Your plan was our plan. We built our home with cash. We bought our cars with cash. And then all of our well sought out plans flew right out the window when our $600 a month health insurance only covered a fraction of our health expenses. The dog got cancer. His medical surgeries and medications added to the money burden. We have blown through $100,000 in 10 years with medical alone for my daughter and me.
    It is this I have no idea how to get out of. A well sought out plan we had. But life got in the way

    Liked by 1 person

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