1million +to retire

From 18 to 26, save $200. A month. Then don’t touch it until age 65. You should have over $1.6 million. If you didn’t start until age 26, and saved $200, per month until age 65, you would only have $1.3 million, after saving all those years! This is “The Time Value of money”.

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Would you need a certain interest rate in order to get to 1.6million?

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Interesting to think about. I am curious to know what has to happen to the money you save in order for you to get to that $1.6 million by 65?


Interesting but like every one else i like to
know how you get to that 1.6 million

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Great advice on the time value of money. Something that needs to be learned early in one’s life in order to take advantage. This book has a chapter called “Do You Want To Be A Millionaire” with similar thoughts. Definitely worth a read: https://juliejason.com/books/retire-securely