Monday, July 9, 2007

1 Million Dollars by Saving per Month

I was browsing around and found an interesting video from Brian Armstrong about how to calculate how much you need to save per month to make 1 million dollars at a certain age.

You may remember I did some estimates of savings in an earlier post, when you needed about 2 thousand per month in savings. The video’s calculation example comes up with a much smaller value (7 hundred). The reason behind it is because the time you will be saving that in the video is 25 years, and in my original calculation it is just 15 years.

Therefore, this only emphasizes how important it is to start early and to get the best interest rate possible in your investments.


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So, I don't actually suppose it will have effect.

muebles arganda del rey said...

Pretty worthwhile data, lots of thanks for your post.