hi Dave Ives the $1 million is an arbitrary number. I picked it mostly because “millionaire status” seems to be so many people’s goals. So if that is the case, this is how much they need to be saving and investing each month to reach that status by 65.

aside from real estate, my main investment vehicle is stocks. Which certainly have a paper value but their value is derived from the value of the companies.

I just checked out your article about when paper becomes trash. Nice article! In it, you mention when the value of the company you have invested stock in goes to zero the value of your investment is essentially zero.

I agree that is a possibility. That’s why I dont invest in individual stocks, I invest in the entire stock market. through low-cost index funds. If the entire value of the stock market goes to zero, we have bigger problems than investment returns.

Economic policy wonk by day. Personal finance writer by night. I write about investing, debt, and all things related to money. Editor of Making of a Millionaire

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store