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moneysense.ca, 21/11/05
Want to be a Millionaire? Write a Book
A column in The New York Times takes a humourous look at the proliferation of “millionaire” books. Just consider the success of these books: The Millionaire Next Door, The Automatic Millionaire, The Millionaire Mind, The One Minute Millionaire, Cracking the Millionaire Code, The Millionaire Code, which have made their authors into millionaires.
Maybe I should be writing one of these millionaire books, many of which are just selling old wine in a new bottle. Some titles I am considering:
The Canadian Millionaire
Maybe not, considering that a best seller in Canada is a book that sells 5000 copies.
How to Become a Millionaire? (Without Contesting in Reality Shows)
Reality shows and Millionaires. Two birds in one stone. I really can’t lose with this one!
How to turn $100 into One Million?
Hint: At a 10% annual return, it will take just 97 years!
Please feel free to leave your title suggestions in the comments.
moneysense.ca, 21/11/05
At the end of year 97, one would acheive $1 million with a 10% return every year. Could not resist testing b/c excel was already open.
Klauss: I stand corrected. Turns out I used the wrong calculator! Oops. I assumed a 31% tax rate on the 10% returns.
Yeah, I guess my assumption is that the hundred went into a roth earning 10%