Author Topic: Daily Financial Deposit Challenge  (Read 379 times)

radram

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Daily Financial Deposit Challenge
« on: March 20, 2017, 06:42:48 AM »
I read this article and thought some here might want to turn it into a challenge.

http://www.msn.com/en-us/money/personalfinance/31-year-old-millionaire-the-single-most-important-hack-ive-used-to-build-wealth/ar-BByo4VE?li=BBnb7Kz

In summary, the idea is to turn your financial goals into daily ones. To that end, the subject of the article reached $1 million by depositing a minimum into his investment account EVERY DAY.

Since I am FIRE already, it would not make real sense for me to join, but the younger me might just have had a fun time with this.

Anyone interested?

Drole

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Re: Daily Financial Deposit Challenge
« Reply #1 on: March 20, 2017, 09:21:56 AM »
We're also FIRE'd but I still think this could be good for my hobbies/side hustles that I enjoy doing. I like goals. I like lists. 

solon

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Re: Daily Financial Deposit Challenge
« Reply #2 on: March 20, 2017, 12:29:48 PM »
I just did the math. I'd have to save $181 a day.

This is the most depressing thing that happened to me today.

radram

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Re: Daily Financial Deposit Challenge
« Reply #3 on: March 20, 2017, 12:33:58 PM »
I just did the math. I'd have to save $181 a day.

This is the most depressing thing that happened to me today.

How old will you be when you FIRE? You are already 2006 years old today :)

solon

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Re: Daily Financial Deposit Challenge
« Reply #4 on: March 20, 2017, 12:39:42 PM »
I just did the math. I'd have to save $181 a day.

This is the most depressing thing that happened to me today.

How old will you be when you FIRE? You are already 2006 years old today :)

I'm going to live until 5000, so I need a big stache. It takes a while to develop these chiseled looks.

rageth

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Re: Daily Financial Deposit Challenge
« Reply #5 on: March 21, 2017, 07:49:05 PM »
I'm in! I already am set up to invest $29.56 "daily" with bi-weekly payroll deductions. But I get roughly $900 monthly in side hustle income. My goal is to invest half of all side hustle income in Roth with the remaining side hustle income split evenly between savings and student loan debt repayment.

radram

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Re: Daily Financial Deposit Challenge
« Reply #6 on: March 21, 2017, 07:59:08 PM »
I'm in! I already am set up to invest $29.56 "daily" with bi-weekly payroll deductions. But I get roughly $900 monthly in side hustle income. My goal is to invest half of all side hustle income in Roth with the remaining side hustle income split evenly between savings and student loan debt repayment.

Good for you. Hopefully you will get some other takers to keep it interesting.