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Feb 25, 2021

Want to be a Millionaire in 15 Years? Here's What You Need to Save Now

Despite mounting student loan, credit card, and other debt, millennials are optimistic about their financial future.

TD Ameritrade released a survey in June that found 53 percent of millennials believe they will become millionaires in their lifetime, with 23 percent expecting to reach $1 million by age 50. Nearly 20 percent believe they will get to that threshold by 40 years old, and 7 percent expect to be there by 30.

These expectations may sound lofty, but becoming a millionaire doesn’t have to be a far-fetched concept. With the power of saving and investing, you could even do it in the next 15 years, starting from scratch – if you commit to saving far more each month than the average American. What would that look like?

To do so from zero savings, you would need to put aside $4,075 per month at a 4 percent rate of return; it would take $3,500 per month at a 6 percent rate. At an 8 percent rate of return, you would need to save $2,945 per month to get to $1 million in 15 years.

Of course, it helps to have existing savings. If you had $10,000 in the bank, you could make it happen on $4,000 per month at a 4 percent rate of return, $3,375 per month at 6 percent, and $2,850 per month at 8 percent. With $20,000 in existing savings, it would take $3,930, $3,325, or $2,775 per month at a 4 percent, 6 percent, and 8 percent rate of return, respectively.

It’s never too late to begin saving and investing. JJ Kinahan, the chief strategist for TD Ameritrade, recommends new investors start by learning the numbers – finding out how much you can contribute per year in a 401(k) or Roth IRA, then determining how much you can contribute relative to your salary and monthly expenses. He also recommends that any windfalls (like bonuses or tax refunds) be set aside rather than used to splurge.

Neophyte investors can use micro-investing apps like Acorns to start, or, at the recommendation of no less authority than Warren Buffett, research low-cost index funds to get in the game. You can also get investment ideas for free from Artificial Intelligence on tickeron.com.

No market is without fluctuations, making it impossible to guarantee the rates of return calculated here. Markets may exceed expectations for a time, then dip – it is also likely that life throws an occasional curveball, necessitating an emergency dip into savings. Regardless of the variables, saving and investing earlier allows investments the longest possible time to compound and weather the ups and downs of life and markets. Setting aside any amount of money per month is a great habit, with tangible long-term benefits. And who knows – with the right set of circumstances, you could even become a millionaire in 15 years.

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Want to invest and/or diversify your portfolio but unsure where to start? Artificial Intelligence can help! Tickeron has developed user-friendly Artificial Intelligence tools to help new and experienced investors generate investment ideas. Tickeron’s A.I. is capable of evaluating a portfolio and providing a “Diversification Score,” to tell the user how well-diversified their portfolio is. It can also generate investment ideas for a user’s 401(k) plan – even if you’re just getting started! The A.I. will give you ideas based on your risk tolerance, investment objectives, and the investment options available.

Tickeron’s new financial website is available to beginners, intermediate investors, and even experts and advisors. Explore tickeron.com today.

Related Ticker: ACWI

Momentum Indicator for ACWI turns positive, indicating new upward trend

ACWI saw its Momentum Indicator move above the 0 level on June 05, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 72 similar instances where the indicator turned positive. In of the 72 cases, the stock moved higher in the following days. The odds of a move higher are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Moving Average Convergence Divergence (MACD) for ACWI just turned positive on July 03, 2024. Looking at past instances where ACWI's MACD turned positive, the stock continued to rise in of 48 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ACWI advanced for three days, in of 368 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 382 cases where ACWI Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 6 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 7 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where ACWI declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

ACWI broke above its upper Bollinger Band on July 10, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

Tickeron has a positive outlook on this ticker and predicts a further increase by more than 1.00% within the next month with a likelihood of 81%.

Notable companies

The most notable companies in this group are NVIDIA Corp (NASDAQ:NVDA), Microsoft Corp (NASDAQ:MSFT), Apple (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN), Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL), Meta Platforms (NASDAQ:META), Broadcom (NASDAQ:AVGO), Eli Lilly & Co (NYSE:LLY), VISA (NYSE:V).

Industry description

The investment seeks to track the investment results of the MSCI ACWI composed of large- and mid-capitalization developed and emerging market equities. The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The index is a free float-adjusted market capitalization index designed to measure the combined equity market performance of developed and emerging markets countries.

Market Cap

The average market capitalization across the iShares MSCI ACWI ETF ETF is 90.66B. The market cap for tickers in the group ranges from 64.65K to 3.18T. NVDA holds the highest valuation in this group at 3.18T. The lowest valued company is BAYN at 64.65K.

High and low price notable news

The average weekly price growth across all stocks in the iShares MSCI ACWI ETF ETF was 1%. For the same ETF, the average monthly price growth was 4%, and the average quarterly price growth was 15%. EBS experienced the highest price growth at 34%, while DSY experienced the biggest fall at -21%.

Volume

The average weekly volume growth across all stocks in the iShares MSCI ACWI ETF ETF was 7%. For the same stocks of the ETF, the average monthly volume growth was -13% and the average quarterly volume growth was -6%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 60
P/E Growth Rating: 51
Price Growth Rating: 43
SMR Rating: 56
Profit Risk Rating: 50
Seasonality Score: 12 (-100 ... +100)
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General Information

Category ForeignLargeBlend

Profile
Fundamentals
Details
Category
Global Large-Stock Blend
Address
iShares Trust400 Howard StreetSan Francisco
Phone
1-800-474-2737
Web
www.ishares.com
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