Getting Off on the Right Foot

A young immigrant aspires to be a millionaire.

Even if you don't count home equity, the U.S. is home to more than three million millionaires, a group that Abba Genes resolves to join by age 56, if not sooner. A 24-year-old New Yorker who attends college during the day and works nights and weekends as a concierge, Abba picks the brains of friends and people he meets on the job for investment ideas, and he reads financial books and periodicals with the fervor of an ambitious Wall Street junior analyst.

Despite having to pay for school expenses and rent, Abba invests $250 a month in a Roth IRA and has so far accumulated $3,500 in Dodge & Cox International, an excellent foundation for his investment program. Abba wonders what else he should invest in -- and about his odds of joining the millionaires club.

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Jeffrey R. Kosnett
Senior Editor, Kiplinger's Personal Finance
Kosnett is the editor of Kiplinger's Investing for Income and writes the "Cash in Hand" column for Kiplinger's Personal Finance. He is an income-investing expert who covers bonds, real estate investment trusts, oil and gas income deals, dividend stocks and anything else that pays interest and dividends. He joined Kiplinger in 1981 after six years in newspapers, including the Baltimore Sun. He is a 1976 journalism graduate from the Medill School at Northwestern University and completed an executive program at the Carnegie-Mellon University business school in 1978.