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Thursday, July 26, 2007

Millionaires in the Making - Aris and Maria Magtibay

The CNNMoney.com article discusses the finances of thirty-something couple, Aris and Maria Magtibay. With a combined salary of $115,000, they have managed to save $180,000 in 401(k), $23,000 in IRA, $14,000 in 529 plan, $81,000 in Home equity, and $3,000 in Emergency Fund.

How did they do it? By obsessively documenting even small purchases, and regular and aggressive saving. The couple is aiming to pay off their 30-year mortgage within 21 years. As per a financial planner, with some changes, the couple is on track to be millionaires by age 50, and having $100,000 a year in income to live on.

For other fields and details, check out:

CNNMoney.com: Millionaires in the Making

Labels: frugal; Investing; invest

posted by Ruby @ 9:03 AM

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