Savings Tricks From Regular People Who Are Sitting on Millions
Savings Tricks From Regular People Who Are Sitting on Millions
Saving $1 million is possible with good financial habits.
By Joel Anderson
One million dollars is a major milestone for almost anyone. It’s the sort of nest egg that can fund a generous lifestyle in retirement or even build your dream home. However, for many, it’s also a pipe dream. Understanding how to make a million dollars is a question for the wealthy, not the average American.
However, in many ways, that’s a dangerous misconception. In fact, building up your savings to $1 million certainly isn’t easy, but a lottery ticket or huge business deals aren’t the only paths available. For plenty of people, smart budgeting, strategic investments and just good old-fashioned horse sense can combine to create the sort of habits that will put $1 million well within reach, even if you’re living a relatively modest life.
If that seems implausible to you, it shouldn’t — especially after reading these real stories from a few normal people who have hit that $1 million goal. You’ll probably notice an absence of lofty advice about sparking a huge windfall or a series of get-rich-quick schemes. Instead, these people stress that the answer to the question of how to save a million dollars involves core financial habits, which are as valuable when you have $1 to your name as they are for those who have $1 million.
Carl Jensen, Blogger at 1500 Days to Freedom
Carl Jensen, the writer behind the blog 1500 Days to Freedom, has a net worth that is the source of considerable consternation for many of his neighbors who note his modest home and thrifty ways. However, Jensen puts his net worth at about $2.3 million, including approximately $1.8 million in investments.
“The best story about our situation is that a neighbor once told another neighbor that she thought we were poor because she saw me working on my car,” Jensen said.
So how has Jensen managed to save that much money?
He Made a Conscious Choice To Downsize
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