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today we're gonna talk about how to become a millionaire using the $25 plan if you could save $25 if you want to get to retirement or if you want to commit to a goal this videos for you to stick around there's your first time at our channel or you haven't subscribed be sure to click on the bell at the bottom subscribe right now my name is Travis sickles certified financial planner with sick alone or financial advisors I want you to think of this $25 plan as something where you start small but you think big I'm gonna show you what the numbers look right now so let me put them on the screen so you can see them along with me so the first thing that we have to do is we have to save $25 it's going to be $25 every single week if we do that if we save $25 every single week so you could see here year one is gonna be $1300 so year one is 25 times 52 is gonna give us $1300 if we do that every single year we're gonna have fifty-two thousand dollars well that's not millionaire status yet so we need to fix that so let's adjust that just a little bit let's go ahead and take that $25 and invest it into a portfolio that gets us eight percent so we're gonna invest this 25 dollars every single week and get ourselves in a percent rate of return if we do that we'll get to three hundred and thirty six thousand dollars or just just over three hundred and thirty six thousand dollars but that's still not enough to get us to the million dollars so there's one more piece and if you remember a few minutes ago the $25 plan is the building blocks to thinking bigger so we can start today by saving $25 but we have to challenge ourselves we have to work harder in order to get to becoming a millionaire so if we make this one small change which I'm going to tell you what is in just a moment this plan shows we have 1.5 million dollars that's a million and a half dollars and an eight percent rate of return and we started out saving $25 so what did we do in this plan that we didn't do in the other two what we're doing here is we're increasing our savings little by little so year one we're only saving $25 a week which is 1,300 but in year two we need to increase that we're gonna increase that by 10% now 10% might seem like a lot in the beginning as a percentage but it's a small amount when we're thinking about in terms of $25 that goes from $25 to $27.50 in your tail so even by the end of year 2 we're only saving $27.50 so you can see the massive difference starting small but thinking big can have on your overall plan but let's take a look a little closer to see what other numbers that we could take a look at so we just saw with the $25 plan the plan starts out with just $25 a week that's not a whole lot of money getting $25 saving it into an investment account for getting about it and continuously doing it it's starting small and working your way up over time and a lot of times a lot of times when we're looking at the $25 plan and we're saying wait a second you know it's it's just a little bit of money now I'll just wait until I can save a lot more money so I'm gonna wait until I can save either $2,500 or $5,000 a year before I started investing because 1,300 a year really isn't that much money that's what we hear all the time but I'm gonna show you the massive difference in waiting so waiting waiting until we can save twenty five hundred or five thousand dollars can have a huge impact on your ability to reach your retirement goals or any goals let's go back and look at our plan and what we're looking at is when we could save twenty five hundred so the same plan we would have to wait until the year 2025 before we were saving $2,500 or more per year so if we take a look in the year 2025 and do exactly the same thing we're gonna save 2500 and we're gonna increase it the same way we did before and let's see what that difference is so this plan is going to show us that we have 1.3 million dollars that's 1.3 million dollars before we had over 1.5 but now since we wanted to wait we have over two hundred thousand dollars less now let's wait until we are able or capable of saving five thousand dollars so this plan is gonna show us the five thousand dollars and in this plan that wasn't gonna happen until the year 2033 when you could save five thousand dollars that would bring your retirement down to just over 1 million dollars now in all three cases we were still a millionaire by systematically saving and increasing our savings every single year but look at the massive difference by waiting just because we didn't want to start with 25 dollars a week we wanted to wait until we can get up to that 2500 or that 5,000 dollar threshold the person that started today on $25.00 was four hundred and fifty thousand dollars richer with the same plan in all three cases we were able to get to a million dollars just systematically saving now the first plan the one with the most amount of money at over 1.5 million dollars started with just 25 dollars what's really important to understand about this $25.00 plan in order to reach your retirement goal or whatever other goal you have starting today is one of the most important things that you can do for your financial future now I know that there's a lot of number crunchers we're probably watching this video and saying wait a second what's a million dollars going to be worth in forty years from now it's not going to be worth as much as it is today but that doesn't mean that you shouldn't start saving today if you wondering whether or not a small investment can help you start reaching your financial goals I hope you have your answer right now if you've enjoyed this video be sure to subscribe and leave your comments down at the bottom [Music]