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Save $1500 per month, invest in index funds, such as QQQ. If you are lucky and your investments grow 15% every year then in 15 years you will be a millionaire.
by petilon 9y ago
Save $1500 per month, invest in index funds, such as QQQ. If you are lucky and your investments grow 15% every year then in 15 years you will be a millionaire. More realistically, if you assume 9% growth then in 20 years you will be a millionaire. Use this compound interest calculator to run your own simulations: https://www.investor.gov/additional-resources/free-financial-planning-tools/compound-interest-calculator https://www.investor.gov/additional-resources/free-financial...
- aoeusnth1 9y ago"Past returns are not predictive of future gains." After taxes, im pretty sure you'd be lucky to get 5% amortized yearly returns.