If someone who is 25 years old invests just $3.30 per day then they could save up to $1 million by the time they turn 75! Now, there is no guarantee with any investment but these numbers are based on what history has shown. If you were to invest $100 per month beginning at 25 and earn an average return of 9% then you would have approximately $1,166,910 at age 75. By utilizing the power of compounding interest, it is possible to turn $100 a month today into $1 million tomorrow. How many young people could find extra funds for retirement if they simply cut back on their daily latte?
Nick S. Wold, CPA, MA