💥 Becoming a Millionaire by 35: A Practical Guide

At 22, aiming to be a millionaire by 35 is a solid goal. Here's a step-by-step approach to achieving it:

🔸 Make a Lot of Money

- Target Income: To save $50,000 annually and reach $1,000,000 with a 6% return, you need an income of at least $135,000 before taxes.

- Career Options: Consider high-paying fields such as:

- Tech: Software engineers and IT managers.

- Healthcare: Doctors, nurse practitioners, and physical therapists.

- Corporate Management: Financial, marketing, or sales managers.

- Alternative: Starting a business can offer even higher earnings but is riskier.

🔸 Spend a Little Money

- Budgeting: With an after-tax income of $100,000, aim to spend around $50,000 annually.

- Smart Spending: Create a detailed budget to manage expenses in categories like food, rent, transportation, and personal items.

🔸 Invest Wisely

- Basic Approach: Invest your savings in an S&P 500 index fund, which historically averages around 6% annual returns after inflation.

- Alternative Investments: For potentially higher returns, consider real estate, private businesses, or other alternative investments.

By focusing on high income, disciplined spending, and smart investing, you can achieve financial independence and potentially reach $1,000,000 by age 35. Best of luck on your journey!