My Million Dollar Journey – August 2017

My Million Dollar Journey – August 2017
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I want one million dollars in my saving account.  I mean who doesn’t so below is my story and why I decided to start my million dollar journey.

My Husband and I have joint goals when it comes to our finances, but then we also each have our own personal goal.

One of my personal goals is that I want one million dollars in my saving account.

This million dollars would be on top of what I am saving in my 401K and emergency savings.

Since in the beginning big goals like this seem impossible and a lot of people see them as nice to have if it happens. I figured I would share this goal with everyone to keep me accountable and so you can see how I did it.

My Million Dollar Journey

  1. I started by opening an ALLY saving account that earns a 1.15% interest. This way my money can grow while I save.  This will help me reach my goal faster.
  2. I set up auto transfers from my checking account into my Ally savings account. I set this up to transfer $500 every other Friday when I get paid from my 9 to 5.  You can learn all these tips and tricks by reading The Automatic Millionaire by David Bach.
  3. Along with my 9 to 5, I also have a part-time job that I work a few hours a month.  I took my last paycheck from my part-time jobs and transferred the money over into my Ally Savings account.  It’s not a lot of money but every penny helps.

August 2017 – Journey to One Million Dollars

Ally Savings Account – $7,142.26

 

Over the next few months I want to do more research on side jobs and different investment opportunities to grow my savings account to one million dollars.

I would love to hear about your money saving journeys. Contact me  and share your story.

 


2 thoughts on “My Million Dollar Journey – August 2017”

  • 1
    Cara on August 14, 2017 Reply

    Hi Ali. Having a million dollars in your savings account and retiring early are great goals. I also want to retire early with at least a million dollars, but I want to see my millions in investments, not my savings account. Do you currently have any investments? I started investing in real estate four years ago and it has definitely speeded up the process of growing my wealth.

    • 2
      Ali on August 14, 2017 Reply

      Hey Cara. Yes I currently have different investments, but this is something I want to do on top of those investments. My husband and I have some rental properties so I agree that Real Estate investing is a fantastic way to grow your financial portfolio.

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