Do you want to be a millionaire? We know you do, but the question is: how can you generate $1 million in wealth?
According to America’s Wealth Coach, it may not be as hard as you think.
Financial guru Deborah Owens stopped by NewsOne Now on Monday to explain how you can invest like a boss and generate seven figures in financial freedom.
Owens told NewsOne Now guest host Mo Ivory that the key to building a million dollars “is not some big windfall, it really is investing over time.”
Through the five investing and financial tips she shared, Owens believes that anyone can “build a million dollar portfolio.”
Top Wealth Building Investment Tips:
- Save Early – Begin setting aside funds to put in a 401K plan early in your career or job regardless of how long you plan to be there.
- Save More – Max out your 401K contributions, start at 10 percent of your income and then increase your contributions by one percent every year.
- Take Risks
- Invest In Stocks – Target retirement date funds are under-performing and interest rates have been significantly lower. People who have accumulated considerable amounts of wealth have invested up to 75 percent of their portfolio in stocks.
- Automatic and Systematic – If you do not have an employer sponsored retirement plan, you can still invest in an IRA (Individual Retirement Account), a self-employed individual retirement account, and have funds taken out on a monthly basis.
Watch America’s Wealth Coach Deborah Owens and Ivory discuss how to generate seven figures in wealth in the video clip above.
Be sure to watch “NewsOne Now” with Roland Martin, weekdays at 9 a.m. EST on TV One.
Subscribe to the “NewsOne Now” Audio Podcast on iTunes.
SEE ALSO: WealthyU: Financial Fundamentals To Get You Fiscally Fit
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