Ramit SethiRamit Sethi: The No-BS Guide to Living a Rich Life

Easily become a Millionaire by doing THIS

15 Oct 2024 · 1 min

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Excerpt from a YouTube video by Ramit Sethi arguing that investing $425 per month (about $14 per day) from age 25 for 40 years, assuming a 7% return and a low 0.1% management fee, will result in over $1,000,000 by age 65. The speaker emphasizes focusing on solutions (the math) rather than perceived obstacles.

Questions this video answers

$425 per month.

About $14 per day.

Age 25.

By age 65.

40 years.

Chapters

If you invest $425 a month, or basically $14 a day starting at the age of 25, you will easily be a millionaire by the time you're 65. When I tell people this, you know their first reaction? They go, oh, my God, I have to invest $400 a month till I'm 65. Where am I going to get $400? 25 year olds don't have $400. I'm like, are we focusing on what won't work or are we focusing on what will work? Look at the math. In 40 years, with a low 0.1% management fee, assuming a 7% return, you'd have over a million dollars. This is very straightforward.