I am towards becoming a millionaire, at least when I am retired, are you?
How to do it slow and steady and secured, the unit trust way.
According to my calculation, you will become a millionaire by doing the following
1) Invest RM100 every month into equity fund for 44 years
2) Invest RM500 every month into equity fund for 29 years
3) Invest RM1000 every month into equity fund for 22 years
If you start working at 18 and start investing RM500 every month, then you will become a millionaire when you are 47 years old, why not?
If with 9% annual return, to have RM1 million, you need to save consistently
a) RM100/month for 48 years
b) RM500/month for 31 years
c) RM1000/month for 24 years