Creating Income with Music

A podcast for music creators. Host Eric Nordhoff shares insights from his twenty years of experience in creating and marketing music. Think of him as your music business mentor and coach.

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Creating Income with Music

The Simple Financial Plan

February 02, 2022 • Episode 539

The plan is simple:

Pay off all BAD debt.
Build a 3-month emergency fund.
Open a Roth IRA
Invest $500 a month (into the SPY - S&P500)
Keep doing for 40 years.

Start early and this is enough to make you a millionaire.

Assuming a 12% annual return rate compounded over 40 years, this would be worth $4,943,560.

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