Do you have an idea of a plan to become rich?

Question

Tell me if this sounds like a sickly start.

I plan to be as wealthy as I can in the next ten yrs.

1. Save 3/4 of a paycheck per month or pay an extra half of my

mortgage.

2. Buy no new car unless I desperately have to.

3. I owe $80,000 on my townhouse; I will reside here until then;

just do upgrades.

4. Have no checking account; do money orders.

5. Invest in freezer to reduce grocery shopping and buying unneeded items when visiting the grocery store.

6. When going on family reunion vacation blocking out what they think

and impulses to buy unneeded items.

7. Decorate with classical and contemporary to maintain a good

decoration scheme throughout the years.

8. Invest moderately instead of modestly in investments.

9. Roll TSP (401K) into an IRA before the end of 2008.

10. Pay off loan and one charge card.

Can you help me add to my plan?

Answer 1

hello - looks good and i agree with the comments above - however, one question, why the money orders, don't they cost money to get?  whats wrong with a checking account?  just find one that has no fees and you should be fine on that one.  I'm not getting the connection on the autobiography, but good luck writing it.  cheers -  

Answer 2

1)  add a few exemptions to your paycheck, but make sure you build a "reserve" fund to pay the tax offsets in early 09?

2)  Max out ROTH IRA:  

3)  Look at incremental ways of saving a little on cable, phone services, etc.

Answer 3

Hi Genee,

I think you have a great plan ahead!  You have taken the first step.

Now you have to have the right income coming in!  Do you have those plans in order?  Working in your own Home Business may be a place to look too!  With Home Businesses you have great tax write offs of things you would normally have or do but now since you own your own businesses you can deduct for deductions.

If you would like to check this business out it young and growing fast!

No matter what business you go for if you go for a Home Business, be sure that they have a good support system in place.  That will be your success!

http://ptwToday.com/yahoo