How to Make A Million Ringgit!

Press this link:

http://www.moneychimp.com/calculator/compound_interest_calculator.htm

With the compound interest calculator above, key in these values:

Current principal: RM1000 (your initial value)

Annual Addition: RM24000 that is RM2000 a month

Years to grow: 26

Interest rate: 3.7% (which is according to our local bank's fix deposit interest rates: link here)

Compound interest: 12 times annually (once a month)

Press calculate and you will get:

RM1,052,144.98

The basis of this calculation:

http://www.moneychimp.com/articles/finworks/continuous_compounding.htm

Conclusion:

You have to earn at least RM2000 a month. By hook or by crook you have to put in RM2000 a month into the bank as fixed deposits. Do this religiously...(yes money can be a religion to some people) for 26 freakin' years and you WILL have RM1,052,144.98

So lets say you are 24 now, by 50 years old you can purchase your dream Ferarri by cash. Amen to that brother!

Tips for earning at least RM2000 a month is available here:

http://www.kellyservices.com.my/eprise/main/web/my/services/en/document_center/SalaryGuide_05M.pdf

But of course, there ARE other ways of making money. I heard that football bookies earn ten times more than your legal salaries. Will look into that later.

As Paul Zane Pilzer says, "God loves savers".

Read God Wants You To Be rich