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Old 12-16-2009, 08:19 PM   #1
OnTheWarpath15 OnTheWarpath15 is offline
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Quote:
Originally Posted by Saul Good View Post
Seeing as you are a college kid, if you start at age 20 instead of 25, that final number moves from $2,080,000 to $3,300,000.

If you put away $500 a month starting at age 20 and get 9% on your money, you can retire a millionaire at age 50 even if you never save another dime.
Possibly a stupid question, but where are you getting 9% on your money?
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Old 12-16-2009, 08:29 PM   #2
Saul Good Saul Good is offline
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Originally Posted by OnTheWarpath58 View Post
Possibly a stupid question, but where are you getting 9% on your money?
Nowhere. Right now, I'm getting a hell of a lot more than that. The historical average of the stock market is about 12%. Inflation averages around 3%. That nets out at 9%.
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