“The most powerful force in the universe is compound interest”
~ Albert Einstein
With a target of $1 million
and a $1 initial investment,
a compound rate of 6.5%
over 20 years ...
you would need to make regular savings /contributions of :
$24,188.73 per year to reach your target.
$6,190.69 per quarter to reach your target.
$2,074.40 per month to reach your target.
$958.76 per fortnight to reach your target.
$479.67 per week to reach your target.
( at end of period, target = approx $500,000 interest + $500,000 regular investments)
( one of the best compound interest calculators online...)
With a target of $1 million
and a $1 initial investment,
a compound rate of 6.5%
over 20 years ...
you would need to make regular savings /contributions of :
$24,188.73 per year to reach your target.
$6,190.69 per quarter to reach your target.
$2,074.40 per month to reach your target.
$958.76 per fortnight to reach your target.
$479.67 per week to reach your target.
( at end of period, target = approx $500,000 interest + $500,000 regular investments)
( one of the best compound interest calculators online...)
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Thanks !