Sheesh, so apparently the strategy to get rich is to invest 1k every month into the S & P 501 starting at age 20. Assuming 10% / per you'd have 6.4 million at age 60, and 47 million at age 80, and 130 mill at 90. If you up your monthly contributions to 1.5k, at age 60 you'd have 9.6 mill, and then of course by age 90 you'd be at 195 million.
If you go 2k per month, at age 60--12.7 mill, 90--260 million dollars.
If you go 3k per month, 60--19 mil, 90--390 million dollars
Use this tool: https://www.investor.gov/tools/calculato...0NXOvldWSo
Why are there not more ultra-high net worth individuals? If you save just a little bit, by 65 it's practically impossible to not be a millionaire...
EDIT- if you put away $100 per month starting at age 20, your account would be worth over a million by age 65, at 10%
If you go 2k per month, at age 60--12.7 mill, 90--260 million dollars.
If you go 3k per month, 60--19 mil, 90--390 million dollars
Use this tool: https://www.investor.gov/tools/calculato...0NXOvldWSo
Why are there not more ultra-high net worth individuals? If you save just a little bit, by 65 it's practically impossible to not be a millionaire...
EDIT- if you put away $100 per month starting at age 20, your account would be worth over a million by age 65, at 10%
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