If you saved $200 a month starting at age 18, how much would you have at age 65?

[stlouisguy]

At 8% rate of return.................





























$1,250,758.64



Amazing huh. total put away $112,800

 

[Letmegrow]

By age 65 I will be begging for death.

 

[stlouisguy]

Gotta remember, someone who is 18 now will probably live until 80 or 90 on average with medical advances

 

[Dert42]

i wish i had had $200 a month to put away when i was 18!

 

[stlouisguy]

My daughter is 18 and she can only put away $25 a month, yet anything is better than nothing. I wish I had done it also as those with time on their side dont hardly take advantage of it

 

[levon15]

i always read stuff like this and think that would be nice.

 

[DrBDC]

If you were just castrated at 18 and refused to drive drink or smoke, just the money spent on women, booze, tobacco, and cars would set up a retirement to dream of. But then again would life be worth living? Not!

 

[latazyo]

is 8% possible?

 

[Dert42]

look at his occupation. i would think he knows

 

[DrBDC]

It sure is. I've made about 10K in the last 2 weeks. I'm sure there will be a correction but don't burst my bubble for now. Actually in a good moderate mutual fund you can do 10-15. Some aggressive ones like I had had a Dryfus premium tech and growth was pulling 25%+ for a few years. Luckily I got out of that one before the nasdaq burst. Not by any superior stock knoledge but I needed to close that one for a business use.

 

[Bebo77]

<a href=showthread.php?s=&postid=8421886#post8421886 target=_blank>Originally posted</a> by latazyo
is 8% possible?

thats what i was thinking....for more than 40 years as well...

 

[DrBDC]

Easy. I did some math on a penny from the 40's my wife has. It's worth 1.13 now. Not a lot but if that same penny was stuck in a bank at regular bank savings accounts, it would be worth about 2.50. So any penny that is that old was a bad idea to throw in a penny jar even though it was a generic issue.

General rule of law of 7 is you double your money every 7 years. Doesn't always work but sometimes works even better.

 

[Boosted Rxp]

drummin up business clark

 

[stlouisguy]

<a href=showthread.php?s=&postid=8421886#post8421886 target=_blank>Originally posted</a> by latazyo
is 8% possible?

In no way is this a solicitation or endorsement for this fund, but the Investment Company of America which is an American Fund mutual fund was established in 1934 and has returned an annualized 12.77% since then, which is 72 years

8% should be the minimum you are meeting if you are properly diversified and on top of your investments

 

[Boosted Rxp]

did you know that if frogs had wings they wouldnt wear their *** out from hopping too.

 

[stlouisguy]

<a href=showthread.php?s=&postid=8422297#post8422297 target=_blank>Originally posted</a> by Boosted Rxp
drummin up business clark

No

Was just bored and working on some proposals and thought the board would find it interesting

 

[Boosted Rxp]

i find it very interesting

 

[stlouisguy]

<a href=showthread.php?s=&postid=8421976#post8421976 target=_blank>Originally posted</a> by DrBDC
[B
General rule of law of 7 is you double your money every 7 years. Doesn't always work but sometimes works even better. [/B]

Rule of 72 is better. Divide 72 by your rate of return. You get 10% you double in 7.2 years. You get 12% you double 6 years. You get 8% you double 9 years

 

[drgabe]

$1,250,000 + is nice, but what will the cost of living be in 30-40 years? While it will be nice, you'll need more to supplement your retirement at that time. Heck in 30 years, I'll need that much just to operate a tank.

 

[phc567]

thats 47 years from the age of 18 to 65. if you were 65 today you would have been 18 in the year 1959. where are you gonna get 200 dollars a month in 1959? keep in mind you are 18 years old. its almost impossible. nice pipe dream tho.