ST Alpha - ""Save $100 a month and you'll be a millionaire" ... raise your hand if you ran the numbers on that. -- nm" (Reading a Post)

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"Save $100 a month and you'll be a millionaire" ... raise your hand if you ran the numbers on that. -- nm

Posted by Beryllium (aka grayman) Oct 8 '14, 13:44

(No message)

Responses:

i'd rather get a million at 18 and pay 100 bucks a month the rest of my life -- nm - DaneDukeNuuk Oct 8, 14:08 2
- i would just blow it all on hookers and crack -- nm - zeitgeist Oct 8, 14:11
- That is officer thinking -- nm - zork Oct 8, 14:10
And that's assuming you can save that amount every month for your whole working life. - Meg Oct 8, 13:52
early days of ira and the beginning of double digit inflation of the 70's -- nm - zeitgeist Oct 8, 13:51 1
- Good thing I'm saving a lot more than $100 a month, then. :) -- nm - Beryllium Oct 8, 13:51
It works if you can yield 9.87% annually over a 45 year work life. - spamlet Oct 8, 13:48 5
- i think it was figured on 8% return and deferred taxes till drawn on -- nm - zeitgeist Oct 8, 13:51
- :-) Nice! -- nm - mara Oct 8, 13:49
- No, but that makes more sense. Does that calculate on the lump sum, or the gradual contributions? -- nm - Beryllium Oct 8, 13:49 2
  - If you save $100 per month every month and average a 9.87% rate of return, you'll have $1m at the end. - spamlet Oct 8, 13:56 1
    - less than historic stock market average returns -- nm - zeitgeist Oct 8, 14:05

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