No. of Recommendations: 5
Now, if we could just come up with a low cost S&P 500 index fund that returns 8% annually we'd be all set!

Don't forget that you'd also have to start paying for cable TV from the day you were born. If you wait until you're 20 to start paying for your own cable, 50 years of bills gets you to age 70 - hardly an early retirement.

By my calcs, 30 years of $80 per month compounded monthly at 7% gets you just under $100k in your nest egg. Don't get me wrong, that's still a tidy sum - and a good example of what a small savings over a long time can do - but hardly enough for an early retirement on it's own.

--Peter

PS - And we haven't begun to talk about what that $100k will actually buy 30 years from now.
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