Sunday, April 1, 2012

$1,000,000 by 38 years old

According to plan, I would have accumulated $500,000 at the age of 33 and the next milestone is to have net worth of a million dollars by age 38. To achieve this, I assumed a return of 8% and a yearly savings of $42,000 until age 35 and $48,000 thereafter. Also, the yearly savings are compounded at 8% per annum.