Contrary to a common assumption, you don't need a ton of capital to get started as an investor. Plenty of average earners have grown their retirement savings to seven-figure sums. The key is letting ...
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If your 401(k) hits $1 million by 35, do you need to keep saving for retirement?
Key Points $1M invested at age 35 grows to $2.2M by 45 or $4.7M by 55 at 8% annual returns. A 3.7% withdrawal rate provides $79K annual income at 45 or $172K at 55. COAST FIRE lets compound interest ...
If you have $3 million at 45, you have more than most people will have at their standard retirement age. You may be able to stop saving for retirement and just let compound interest work for you.
Einstein allegedly called compound interest the eighth wonder of the world. Benjamin Franklin defined it more poetically: “Money makes money. And the money that money makes, makes money.” Here’s ...
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