FINP067 What does it take to become a millionaire? (515 words)

This article encourages young adults to utilise the magic of compounding to build their savings and “become a millionaire”. It discusses how little money sacrifices each month can build into great wealth when invested well and advises the reader to seek financial planning help now to start their wealth building journey.

Pssst! Want to be a millionaire? It may seem an impossible dream, but depending on your circumstances joining the ranks of the millionaires may be easier than you think.

There are three key components to a successful savings strategy. The first is some surplus cash; an amount of money you can regularly set aside in your quest to become a millionaire.

Second, an investment return. This can be in the form of share dividends, interest income, rent from properties or a mix.