My son is a millionaire!

Or he will by the time he’s 65. I heard about this book on the MomTalkRadio podcast (available through iTunes or at www.MomTalkRadio.com) called Let’s save America – 9 secrets to financial success and went to their web site to check it out (www.letssaveamerica.com). There I downloaded their FREE report on how my baby can have over One million dollars by the time he’s 65.

 Okay, so what’s the catch. Well, here’s the thing .. there isn’t one. You don’t need to send them money, and it’s not some cheesy pyramid scheme, which is why I’m passing it on to you. From what I gather, the process goes like this:

 Save up $1.00 a day

1. When you have enough, take all that money and stick it in some sort of plan that has compound interest. Mutual funds are quoted here. I’ll have to talk to my financial advisor (hehe .. read get a financial advisor) and see if there’s a safe way to do this. I don’t like risk.
2. Keep adding money, and have dividents go back into the plan
3. Spend like $7500 and you’ll get one million back. Easy, huh?

I don’t have a lot of money. I’ll be frank, but I think I can set aside a dollar a day for my son so when he’s my age, he has some money. Hell, well I’m at it, maybe I’ll set aside some money for myself too. I’d really like to have a million dollar by the time I’m 65, but it’ll take a lot more .. $130 a month as opposed to his $30 so that I can. But, I’ll see what I can do, because .. I -want- a million dollars, don’t you?

 I’ve talked to my spouse about this all in hopes of getting him to set aside a dollar a day for our boy, but he doesn’t see it as vital as I do. His response is: when I’m more financially stable. I don’t really know if such a time exists. It seems to me that despite raises, or getting new jobs with higer pay it really doesn’t make a difference. We just have more bills to pay. We’re not good at saving, so if you are, then good on you. This might be something to check out.

 As for the book, I’m going to add it to my wishlist.

 I’ll let you know what comes of all of this.