How much money would you be willing to sacrifice for one year if you knew that making that sacrifice would enable you to wind up a millionaire in retirement? A large enough, one-time investment compounded over a sufficient number of years at a high enough rate of return can grow to $1 million by the time you need to tap it.
Think about that. After one year of living a spartan lifestyle to save up enough to make a massive investment, you could spend through every dollar you take home for the rest of your career and still wind up with $1 million. With that in mind, here’s how 2021 can put you on the path to millionaire status.