Your First Million Is the Toughest
Here are a few charts that showcase how many years it takes to reach each $1 million threshold given that you regularly invest and earn a decent rate of return.
To go from $0 to $1 million:
Monthly
Contribution
8% Return
9% Return
10% Return
11% Return
$100
52.9 years
48.3 years
44.5 years
41.4 years
$250
41.6
38.3
35.5
33.1
$500
33.4
30.9
28.8
27.0
$1,000
25.5
23.9
22.4
21.2
$1,291.66
22.8
21.4
20.2
19
To go from $1 million to $2 million:
Monthly
Contribution
8% Return
9% Return
10% Return
11% Return
$100
8.6 [...]
Smart Money Remains Fully Invested
Photo Credit: Angelo Marcantonio
The market hasn’t been performing too hot lately. Should you care? As I read posts of personal finance bloggers liquidating accounts and encouraging readers to get out and wait until they feel confident in the market again, I see people falling into the single biggest trap in investing: trying [...]
Profiles in Personal Finance: Warren Buffet
This is a guest post from Corinna Underwood.
Warren Buffet also known as “The Oracle of Omaha,” with a net worth of around $36 billion, ranks as the second third richest man in the world, just behind his friend and bridge partner Bill Gates. He came from a small town, leads a relatively simple life, and [...]
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July 2007 Net Worth Snapshot
What would have been a pretty disappointing month was saved by my 401k. It was the only asset that had any significant gains, and without it, it looks like my net worth would have suffered about a $2 drop for the month. The large increase in the 401k was due to my employer [...]
