I’m currently 29 and I have an aggressive goal to reach $1M invested by the time I’m 40. I currently have about 140K invested and this goal assumes I contribute $1,250 bi-weekly and an annual return of 9% (including the compounding from the regular contributions). If I contribute an additional $625 per month today I would reach my goal 2 years sooner at the age of 38 (2 years sooner). But realistically, I don’t think I can without sacrificing the lifestyle I have right (and I’m already very frugal). I am comfortable with that trade-off and will keep investing $1,250 every 2 weeks into $XEQT(and some smaller ETFs). Reaching my goal sooner would be nice but I don’t think it is worth sacrificing everything in between. Curious to know what y’all would do today if you could reach your goal today at the cost of more sacrifices.
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13 Comments
K C@kckc14 · 20d
What app/website are you using to project this?
Amrit
@persia.qtk · 20d
I am 30, almost 31 and I have not yet set a goal but I believe it will be similar to yours; about $1 mil by 40. I agree with you though that it is not always worth giving up your short term pleasures and comforts, especially if you already consider yourself frugal! Happiness matters.
Binette Pierre
@papabinzz · 20d
2500$ a month 😬 Living at home ?
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