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A 40-year Plan to Building a Million Dollar Retirement Fund
The Motley Fool’s Maurie Backman presents a “road map” to becoming a millionaire by the time you reach your full retirement age, and it’s really quite simple–mathematically, anyway. Her approach is to begin–at age 27–taking the maximum IRA contribution allowed and invest it aggressively, with the result being the ability to accumulate an available balance of $1.4 million by age 67. Simple…all it takes is commitment, the ability to stick to the plan, and an investment strategy that gives you an 8% annual return throughout the 40 year period. Read her article here…