
15. Make the Most of US Federal Government’s Munificence
Another time-honored way of enhancing your revenues or income is to put your money in high-grade bonds like Roth IRA, 401(k), or 403(b). Such securities offer compound internet rates, thereby guaranteeing high returns by enabling your investments to burgeon quickly within a prescribed period. When you’re investing in such accounts, you’ll need to bear in mind that several variables have a bearing on the returns. These are beyond your control.

Nevertheless, you can always leverage taxes and cost of investments. These critical attributes that can adversely affect returns over a long period. See that you take significant steps to keep both taxes and investment costs to a minimum if you intend to be a millionaire. Engage a brokerage firm or a reputed broker that charges modestly for every trade, and ensure that you trade once in a blue moon. If you’re employed and your employer has opened a 403(b) or 403(a), your contributions to that account will facilitate compounding of the money faster overall.