Imagine being 38 years old with no savings for the future. By contributing $583 monthly, which is sufficient to max out a Roth IRA annually, and doing so for 25 years with an 8% return, the total would grow to $529,941.
Imagine being 38 years old with no savings for the future. By contributing $583 monthly, which is sufficient to max out a Roth IRA annually, and doing so for 25 years with an 8% return, the total would grow to $529,941.
This calculation does not take into account any 401k or other investments.