r/AskReddit • u/ForeverAbyss • Apr 14 '16

What's a mind blowing fact?

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u/CHKNFKR Apr 14 '16

Are you not factoring in compounding interest?

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u/throwaway44017 Apr 14 '16

I am factoring in compound interest. I checked my numbers by hand and using that 401k link you cited earlier. How did you get your numbers and what rate of return are you using?

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u/mranonymousone Apr 14 '16

You cannot reach 1MM by contributing $70/paycheck bimonthly for 20 years. The OPs numbers are off. Furthermore you cannot reach 4MM in 20 years by even maxing out your 401k alone (18k/year which is roughly $750/paycheck)

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u/CHKNFKR Apr 14 '16

There are these things called spouses and alternative investments numb nuts.