the secret to making a million!
- If the investment started with an amount as little as AED 20,000 and an individual resort to yearly investments of AED 20,000, it can result in the value of a million over 23 years assuming a steady return of 7% annually.
- Discipline is key here. You invested AED 20,000 every year and reinvest the returns that you have earned as well. Without discipline that money will be spent and will miss the opportunity to work for you.
- As a comparison, if you were disciplined enough to save that money and leave it your savings account which gives you an interest of 1% it will take you 41 Years to get to million. And if you don’t’ save or invest that money, you might never get there.
- The example below only assumed annual return cash return of 7% and does not assume any appreciation in the asset value. You might get to a million sooner if the asset value appreciates as well providing you both a nice annual cash return and price appreciation. This one of the things that makes Real estate very interesting. Read our blog on “The best investment of the Century”