If you invest $0 now and $500 monthly at 6.00%, you’ll be a millionaire in 51 years at age 73.
To be a millionaire at age 45, you’ll need to:
Increase the amount you invest now to $301,474
Increase your monthly investment to $2,187
Achieve a rate of return of 20.44%.
When adjusted for inflation, $1 million in 51 years would be equivalent to $225,994 today.
Did I mention that I want to have 8 Million upon retirement.
Fucking phones won’t stop ringing. I want to go home.