$1,000,000.00 - My teenager dream

This blog is inspired in one of my teenager dream: to make a million dollars before 30 years old. It may surprise you such an ambitious dream for a young person, however it is maybe in that stage of life that we have our most ambitious dreams.

Is that possible? Yes. Here are a few simulations of how it could be achieved starting at 15 years old:

Saving $3,300 per month, investing it at 7% yearly interest; or
Saving $2,000 per month, investing it at 13% yearly interest; or
Saving $1,700 per month, investing it at 15% yearly interest; or
Saving $1,100 per month, investing it at 20% yearly interest;

...

I could spend the whole day making simulations to prove my point. It is easy to notice that the higher is the yearly interest (or yield), the less you need to save. Two basic questions may pop in your head when you read this: How to save that much money? and How to get so much interest?

I will not give you an easy answer to neither of the questions, because there is none. In general, to save money you need to make money and to spend less than you make. To do so, we will have to discuss how to make money and then how to spend it correctly. To get so much interest you will need to know a couple of complex different investment alternatives, which include, but are not limited to, bonds, index, futures, stocks, real estate and, naturally, starting your own business.

I hope to be able to share a bit of what I know about each of those.