Saving Early Really is KEY!
Alright, shoot me, I don't have an exact source for this. It's from the Washington Post; that's all I can give you.
But I thought this information was so staggering that I just had to post it:
a 25 year old who invests $2,000 each year for 40 years... total investment: $80,000... yield at age 65 assumed a 10% return: $973,704
a 35-year old invests $2000 each year for 30 years.... total investment: $60,000... yield at age 65 assuming a 10% return: $361,887
25 year old invests $2,000 each year for 8 years and nothing more for 32 years.... total investment: $16,000... yield at age 65 assuming a 10% return: $531,200
35 year old invests $2,000 each year for 30 years... total investment: $60,000... yield at age 65 assuming a 10% return: $361,887
$973,704? Holy hell! Why haven't I started a Roth IRA yet?
Maybe I'd feel better about it if I had an extra $2,000 just lying around!
1 Comments:
We just started our retirement savings this year. We are a little behind (The hubby just turned 30). We couldn't before because we were self-employed.
I feel a lot more secure knowing it is started.
I also finally feel more "Grown up"
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