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Originally Posted by Rockchick26   That has to be wrong. It took me 18 years to get it up to $4000...in another 18 years I'll only have $8000, assuming I don't lose money...but how can it grow if I'm not working (or working at a job that has the 401k plan?) |
You are right, I'm surprised no one else has called me on that before now. I just threw the information into an online calculator, and either it gave me the wrong results or I entered something wrong. If you invest $4500 for 25 years @ a 6.5% rate return, it would grow to $22,752.89.
Sorry for the misleading numbers from before. Obviously $23,000 isn't nearly the same as giving up a potential $100,000.