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