In order for me to become a millionaire, I (and my fiance) pledge to do the following:
1. We won't be using 401k (yet)
2. Contribute $50 per month to his Roth IRA - $600/year
3. Sell stuff on eBay, craigslist and Amazon - $10/semester ($20/year)
4. Live Frugally - $1000/year (put into my EF)
After the wedding in May we pledge:
1. Contribute to the traditional IRA if it will make us able to use the saver's credit at the max of .5
2. Contribute $200 per month to our Roth IRAs depending on the saver's credit to determine where the money will be deposited
3. Sell stuff on eBay, craigslist and Amazon - $10/semester ($20/year)
4. Live Frugally - $1000/year (put into my EF)
I will be a millionaire in....I'm not sure!!
Part of that is because as we earn more money we save more, my DF has four more years of grad school, then a post-doc position and then a "real" job so there will be a lot of change over the next ten years. The second part is we plan to buy real estate as part of our retirement plan but that will depend of when we find the best deals. I am already looking for our second property.
