You are using an older browser version. Please use a supported version for the best MSN experience.

You can become a millionaire even if you make $35,000 a year

You work hard for your money and your money should be working hard for you. But if you're just starting a career, you're probably more concerned about making ends meet rather than jumping into the stock market. Stop the excuses! You don't need a ton of money when you have something more valuable...time! The math here is simple. Let's just say that you're a 22-year-old making $35,000 a year. If you put 10% of your salary into a 401(k), you'll end up with $1.1 million by the time you are 65, according to an online 401(k) calculator. That assumes just a 2% annual raise each year and if your employer contributes nothing to your 401(k). Many employers do contribute - and that's free money. You can buy all the avocado toast you want then. More from TheStreet: Here Is Why the S&P 500 Is Set to Keep Rising This Year Here Is One Question Every Investor Should Be Asking About Bitcoin Jim Cramer on North Korea, Equifax, Alphabet, Oracle, Nvidia and Southwest Air The Best Part of the Biotech Rally This Year Is Probably Over
image beaconimage beaconimage beacon