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Author: yttire Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5069  
Subject: Re: Happy Dance Date: 6/17/2005 4:05 PM
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My net worth is hovering at 50k so I have a lot of road to travel.

This is a great start!

Give me some encouragement, how long did it take you to get where you are now from where you started.


For me, I am predicting it will take 25 years to reach 1 million dollars from the day I started investing. I am 15 years down the road so hopefully only 10 more to go.

1 mil in the bank with a 5 yr old sounds fantastic.

I'd have to have a kid in 5 years to pull this off- too old for my taste but still physically possible, I hope anyway.

If you can manage to save 15k a year (or 1,125 a mos) with a modest 8% return

21 15.00
22 31.20
23 48.70
24 67.59
25 88.00
26 110.04
27 133.84
28 159.55
29 187.31
30 217.30
31 249.68
32 284.66
33 322.43
34 363.22
35 407.28
36 454.86
37 506.25
38 561.75
39 621.69
40 686.43
41 756.34
42 831.85
43 913.40
44 1001.47

At 44 you have a million bucks. Of course most people start much smaller and then work up to a higher savings rate later (to correspond with their salary slowly going up)

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