Snippet from RJ: How to earn your First Million and become a Millionaire

As you work on your journey to become a millionaire, one thing you should realize is that the first million is the hardest million to make. These two best advices offered by Rani Jarkas, an experienced financial executive, will catapult you to your first million.

Invest Early. Getting rich can be a matter of mathematics. If Henry starts at age 25, by age 61, he’ll be a millionaire. If he starts later, he’ll need to save and invest more. If Henry chooses lower-return investments, such as money market funds or certificates of deposit (CD), he’ll have to save thousands of dollars more to compensate for those investments’ lower annual rates of return.

Be Patient. Regardless of the path you choose to get rich, it will take time. Investing in the stock market takes years for your money to grow and compound. Starting a business and nursing it to success doesn’t happen overnight. When it comes to the math of compounding returns, the greatest financial growth occurs in the later years. Fear and impatience can be your worst enemies when trying to make $1 million.