A Million Dollar Apart

It has been a long time since I last blogged on WordPress. Long story short, let us get to the real business. This time, I will be sharing with you all the idea of compound interest and how much a difference it can make at your retirement age.

The whole idea of compound interest is mostly summed up in the following image, and I have made the following assumptions while doing the calculation:

  • start at 30 years old
  • a consistent deposit of $36000/year
  • stop at 65 years old(retirement age)

1 Million Dollar Apart

As you can see from the image above, the difference of 1.5% each year over a period of 35 years of compound interest is a difference of 1 million dollars 35 years later.

I am sure you are amazed at the 1-million-dollar difference. When it comes to growing your wealth, start early and time is your best leverage.

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