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Just $5/day = $150/month X 8% annual rate of return1 X 25 years = $143,605
If you maximized your annual contributions - $5,5002 /year ÷ 12 months = approx. $458/mo
$458/month X 8% annual rate of return3 X 25 years = $438,474
1 The rates of return used in this example are not indicative of any actual investment and will fluctuate in value. An investment will not provide a consistent rate of return; years with lower (or negative) returns than the hypothetical returns shown may substantially affect the scenario presented.
2 Maximum individual contribution, age 50 and over can add an additional $1,000/year “catch-up”.
3 According to historical records, the average annual return for the S&P 500 since its inception in 1928 thru 2014 is approximately 10%