The increase in economic inequalities -the richest 1% accounts for 63% of the wealth produced since the pandemic- coexists with the dream of many citizens of accumulating sufficient wealth to allow them to retire early. Despite being two contrasting realities, some claim to have reached one million euros before turning 50, as is the case with the testimonials featured in this new episode of the “Pocket” podcast. But is this an achievable goal for a normal, ordinary person?
Convinced that “it is possible for the majority”, the investor Jordi Mercader has designed a plan so that his daughter Laia, a little more than a mileurista, achieves assets close to seven figures when she retires, saving a part of her salary each month and investing it. This was the motivation that led him to found the startup Inbestme. “It seems that reaching a million is a long way off, but it is achievable,” he asserts, while sharing the composition of what he has dubbed “the million-euro portfolio.”
Another different path to achieve this is the one followed by the digital entrepreneur Dean Romero (34 years old). Despite his humble origins, he has accumulated considerable wealth through his company Blogger3cero and various startups, such as the SEO tool DinoRank, an experience he shares in a book. “Reaching this level has allowed me to change the lives of the people I love. Money, in the end, is an amplifier to do good or to do bad,” he says. However, reaching a million is not easy: “I spent many years working for free and earning very little,” he admits.
For his part, the expert in financial education and author of Finance for Geeks. Manage your money like a Hollywood star, Jordi MartÃnez Llorente, reveals to us through a simulation the magic of compound interest to reach the million goal. Although it is an ally to accumulate wealth in the long term, compound interest “also implies starting the sooner the better,” he warns.
‘Pocket’ is a fortnightly podcast that offers information, experiences and advice to learn how to manage better in the complex world of domestic finances. You can also listen and subscribe to the “Pocket” podcast through audio platforms such as Spotify, iVoox, Podtail, Podimo, Google podcast or Apple Podcast.
If you want to contact La Vanguardia’s “Pocket” team to participate in future podcasts or suggest a question about finances of your interest, you can send an email to bolsillo@lavanguardia.es.
