Okay, that was a bit of a sensational title but there’s a reason for that. Deep inside each and every one of us, you and you included, is the financial wherewithal to build a retirement asset base that would likely exceed your expectations. Often times, right before we take a path, we look at the horizon and make value judgments about whether or not we can complete the journey. The decision isn’t so much based on our ability or our surroundings, but some subject decision made in a split second based entirely on the destination and not on the journey itself. It’s very difficult to envision a time when you can look at an account balance and see seven digits (not counting the decimals!). A million bucks is a lot of money and some may see it as entirely out of reach… but it’s not.
In forty years, if you contribute around $1720 a year and it earns 11% a year, your account balance will be over a million dollars. That’s right, a mere $1720 in forty years will be worth over a million dollars. Of course, in that time, a million dollars won’t be worth as much as it is worth now (at 3% inflation, in forty years it’ll be worth around $300k in today’s dollars) but psychologically the impact is still there. Unleash your retirement asset avalanche (ignore the cheese factor!) by saving little by little and you can reach the pinnacle regardless of how far it may seem.