How much money would accumulate if a 16 yr old put away $100 every month into an IRA at 7% interest? - ira interest
.
.
. 32.
What is compound interest?
Monday, January 18, 2010
Ira Interest How Much Money Would Accumulate If A 16 Yr Old Put Away $100 Every Month Into An IRA At 7% Interest?
5 comments:
$ 84,853
But if you are already committed for a period of 32 years as it funds (market growth, and a few ETFs as "spyware" and "DIA"), which will surely come back closer to 12 to 15% over 30 years and older when They end with about $ 660,000 ....
$ 142,841.10. If compound interest means that the actual percentage of which 7.23%. If compound interest, ie that part of the final number is of interest, then your results 104,441.10
$ 142,841.10. If compound interest means that the actual percentage of which 7.23%. If compound interest, ie that part of the final number is of interest, then your results 104,441.10
Honey, interest rates of 7% is acceptable in the short term (that's better) than nothing, but not at 32 years (or require more than 10 years), 7%.
I agree with the person above me, the investment funds are typically 10-15% on average, which is 3-8% higher than now, but he quickly added, if more than 30 years.
So when you get older (aged 18-20 years working age and older), you must learn to save and invest more. So $ 100 per month is currently not a major problem for a child of 16 years.
Not nearly as much as if the person has learned to make options trading and FOREX.
Post a Comment