Ask Terry Questions investing in your 20s to get millions?

investing in your 20s to get millions?

By Terry Savage on October 04, 2015 | Investments

Terry, you wee on WGN morning news yesterday and said to go to your website to get information on how much someone would have to save and how (monthly? weekly?) in order to have so much in 50 years. (I think)

Where is this on this website – did I miss it

Terry Says:   It’s an example I have used in my last three books.  If you save $2,000 a year ($140/week) for 50 years, inside an IRA, earning the historic average rate of return on the stock market — (the S&P 500, a fund found at Vanguard, Fidelity, and in most 40l(k) plans — and reinvest all the dividends, and IF the stock market does as well over the next 50 years as it has over the past 50years (average return of 10%), then in 50 years (when you’re in your 70s — and we are all living longer)  you would have $2.5 million dollars in your retirement plan.

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