For the price of a new car you could be a millionaire?
Let me explain.
If at age of 20 you started investing $10 a week into a decently aggressive mutual fund for 45 years, you would be a millionaire.
The personal investment over this time would be just under $25k and if your mutual fund returned at least 12% each year, you would profit around $1.25 million.
In fact, if you only pulled out about 1/2 million at age 65, you would still profit around $100k a year.
Start young, stay consistent, don't quit.
Thursday, January 15, 2004
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