Would you like to finally have a 5 zero account and accumulate 100,000 euros?

If you already have them, read this article on how to make a million euros.

If you don’t have them, make sure you accumulate them as soon as possible!

Ok, one hundred thousand euros are not very many, they do not change your life, they will not make you filthy rich …

But I assure you that there are not a few and they could greatly improve your existence by giving you a certain financial peace of mind.

I must say that I have never had this figure on account for a long time, but when it happened a while ago I felt really good.

Unfortunately, I spent it immediately renovating the house, but I must say that the feeling was top!

I would have invested them in a thousand activities, made their profit, turned them into profitable businesses.

100,000 Euros are the first step to achieve wealth, start investing seriously by accessing more advanced financial instruments and face everyday life with peace of mind.

Unfortunately, it is not a goal that we can all quickly reach, but certainly, you too can accumulate this amount in your life that, while reading this article, seems so important to you.

To reach this sum you must first set a realistic time objective.

In this article

• How long do I need to accumulate 100,000 Euros?
• What intermediate goals should I set myself?
• How to do it?
• How to start earning one hundred thousand euros right away?
• What to do with interest?
• Conclusions

How long do I need to accumulate 100,000 Euros?

Obviously, it depends on some factors:

• your income ;
• your savings capacity;
• the return on your investments.

Let’s assume we earn 100,000 Euros per year.

It is realistic to accumulate 100,000 in 5 years, saving 20,000 Euros per year.

If, on the other hand, you earn 50,000 euros net every year, it could take 10 years.

If you earn  25,000, you can consider 20 years.

Finally, if you earn 12,500, take 40 years.

The calculation is simple and can of course be adapted to your situation.

I have assumed that you save 20% of what you earn each year and have calculated how many years it takes you to reach your goal.

I have not considered the power of interests that will allow you to shorten your way to the finish line.

We will see later in the article why …

What intermediate goals should I set myself?

A goal like the one we are talking about – accumulating a sum of one hundred thousand euros – can seem very difficult to achieve.

On the other hand, once you understand what your time horizon is, it is much easier to understand how to get there if you set yourself intermediate goals to achieve.

An intermediate goal motivates you if achieved and allows you to correct your shot when you miss it.

So here’s what your intermediate goals might be:

100,000 Euros in 5, 10, 20, 40 years equals:

• 20,000, 10,000, 5,000, 2,500 Euros per year;
• 1.667, 833, 417, 208 Euros per month;
• 56, 28, 15, 7 Euros per day.

If you are thinking about what goal you aim for, I would tell you to discard the unambitious goals right away.

For example, I have chosen to reach 100,000 in 10 years.

So for next year, I have to accumulate 833 euros per month.

HELP!!

This is about 600 euros per month more than what I save today.

How to do it?

There are always and only two roads:

Increase your earnings or save.

But always remember that: there is always a limit to how much you can save, while there are no limits to how much you can earn!

So the easiest way to achieve your goal is to earn more by increasing your income.

Earning more means:

• Ask for a raise;
• Achieve a goal and get a bonus;
• Increase your customer base;
• Increase the price of your services;
• Challenge the competition;
• Identify new niches;
• Cultivating a side business.

Of course, there is no point in earning more if we are unable to increase our share of savings.

It is indeed essential to save.

Saving more means:

• Wait to spend, looking for the best offers;
• To recycle;
• Produce some goods;
• Optimize the energy consumption of your home;
• Cut on services purchased outside (pay-TV, cleaning, laundry, babysitting …)
• Bartering goods with neighbors, colleagues, friends.

How to start earning one hundred thousand euros right away?

The secret to achieving this is very simple.

First, you have to want it intensely.

Wanting it intensely means internalizing this goal and doing everything to make it happen.

It involves a great deal of willpower.

It also requires you not to be seduced by easy temptations.

Second, you need to act now.

Acting immediately means finding an account or service on which to accumulate the desired sum and immediately start accumulating.

Not from January, not from next year, but today!

For example, I need to accumulate 100,000 in 10 years.

That’s why I have to add almost 600 Euros per month to what I already saved.

What have I already done?

I have set up an automatic transfer to Moneyfarm at the end of the month, setting up a new wallet that is more prudent than the current one.

Obviously, with this new wallet of only 100 Euros per month, it will not be possible to achieve my goal.

Here I will have to find other forms of savings.

I will keep you updated, but for the moment I may simply transfer a fixed amount to my deposit account and then decide what to do overtime.

The important thing is to automate this saving process and take a certain amount out of the money destined for expenses.

What to do with interest?

If you want to enjoy your wealth, I recommend that you use what you will earn by accumulating and saving to get better!

It means that you will be able to spend a portion of what you earn from your savings each year.

Imagine saving the first 10,000 euros you invest will guarantee you an annual return.

It is not necessary to invest all the interest accrued, but you can celebrate the milestone achieved and spend a good part of this amount (only the interest, please!).

The results must be celebrated and you will find that in this way the path to your goal will be much easier.

Now and then dinner, a holiday, a whim are essential to enjoy life.

The amount you can spend will increase annually, reflecting your commitment to the right goal.

Indulging in it will increase your awareness and financial well-being and determination towards the finish line.

Conclusions

Having a large amount available is useful for managing emergencies or coping with the needs of life.

One hundred thousand euros are certainly not crumbs and to accumulate such an important figure you have to take your time and work towards the goal.

But you have to do it with determination and above all immediately.

So don’t hesitate and based on how much you earn, set yourself a time horizon of 2, 5, 10, 15, 20 years and take action.

Of course, if you make money like Neymar, maybe set yourself a more ambitious goal …

Start saving and don’t forget to spend a portion of the interest earned.

The sooner you start, the more time you will have to enjoy your financial peace of mind.

Because compound interest indeed speeds up the achievement of your goal, but sometimes gratification is also necessary to feel better!

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It costs you nothing, it helps me achieve my goals!