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Start on your first $1 million at age 16

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lanux128:
How to retire with $1 million after working four summers at McDonalds.


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Deozaan:
Oh carp I'm a few years late and I'm making more money than I'd ever make at McDonald's. What do I do now?  ;D

app103:
Actually the concept of putting money into a retirement account starting when you are a teen isn't very new...goes all the way back to a book published in 1995 called More Wealth Without Risk. (probably even older than that)

But they took it a step further in their idea by suggesting that parents not put money away for their kid's college education, and instead dump it into an IRA for them and let the kids take over the payments as soon as they are old enough to work. And the amount they suggested teens put away was $1 a day.

I made a post in my blog a long time ago about the whole idea in response to something I read about people that make regular trips to Starbucks are wasting $1 million over the course of their life.

http://cranialsoup.blogspot.com/2006/04/damn-coffee-is-expensive.html

Deozaan:
So from my understanding Scott Burns is saying that from an $8,000 investment in a Roth IRA you can have a million dollars in ~50 years?

cranioscopical:
Fair enough but, if I pay $1 million can I be 16 again?

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