If You Put Just $100 in Your IRA Every Month for 15 Years, You Could Have This Much Cash by Retirement
I love modeling how small sums invested regularly can snowball into huge sums over time. Why? Because it's so true -- it can really happen to you.Let's review some scenarios. The table below shows what happens if you invest just $1,200 per year (that's $100 per month) in an IRA. While the stock market has averaged annual returns of close to 10% over many decades, we'll be a little conservative and assume 8% average annual growth.Image source: Getty Images.Continue reading
I love modeling how small sums invested regularly can snowball into huge sums over time. Why? Because it's so true -- it can really happen to you.
Let's review some scenarios. The table below shows what happens if you invest just $1,200 per year (that's $100 per month) in an IRA. While the stock market has averaged annual returns of close to 10% over many decades, we'll be a little conservative and assume 8% average annual growth.
Image source: Getty Images.
