Thoughts and Riches

.....a blog about personal finance, motivational stories, deals, and special offers

Books

Web Domain Registration

Thursday, July 12, 2007

Millionaires in the Making - Jerry and Lynn Moser

The CNNMoney.com article profiles a couple, Jerry and Lynn Moser, on the way to becoming a millionaire. Just 14 years ago, the couple had a bad credit history, high debt and no savings. In addition, Jerry was a recovering drug and alcohol addict making just $6 an hour.

Fast forward to present and the couple now has combined salary of $106,000, with a combined net worth of over $300,000. So how did they go from a terrible financial situation to the road to being a millionaire? By working hard, contributing 15 percent of their pre-tax income into their respective 401(k) accounts, and $2,000 each into their Roth IRAs every year. In addition, the couple carries little debt, makes use of coupons and lives in a relatively inexpensive part of the country. Add the time factor before they retire and the couple feels that they will be millionaires.

For complete article, check out:

CNNMoney.com: Millionaires in the Making

Labels: invest

posted by Ruby @ 8:18 AM

0 Comments:

Post a Comment

<< Home

See important Disclosure and Disclaimer

Favorite Quote

"If you look at what you have in life, you will always have more. If you look at what you do not have in life, you will never have enough".
- Author Unknown

Disclosure

This site uses cookies from companies like Google and others to enable the companies to deliver their services, personalize their ads and product offerings, and for traffic analysis. Information about your use of this site is shared with these companies. By using this site, you agree to its use of cookies. Additionally, this site, including blog posts, may contain reviews, links, banners, text and other forms of advertisements for products, services, courses, and so forth of companies of which we may be an affiliate member or for which we may get paid for referrals. This site may also contain blog posts for which we are paid, as well as blog posts regarding products or services of companies from which we may have received complimentary products or services.

Reward Surveys/Panels/Shopping/Contests