Ep. 110 - Wealth Building
Sep 24, 2023 ·
26m 18s
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Description
This week, we discuss the Federal Reserve again throwing cold water onto the stock market. At some point, the Federal Reserve will be done with their tightening cycle and a...
show more
This week, we discuss the Federal Reserve again throwing cold water onto the stock market. At some point, the Federal Reserve will be done with their tightening cycle and a little patience goes a long way.
Our main topic today is Wealth Building for Generation Z and Millennials. Generation Z is defined as those born between 1996 and 2010, and Millennials between 1981 and 1996. Quite the spread of ages, but all worried about the same things. How can I build wealth and set myself up for financial independence?
The calculation I use in this episode is as follows:
Save 10,000 a year from 25-45 years old and earn an 8% return. This grows to 457,619 age 45. Stop contributing...but let it grow until you're 65, and it is worth $2,132,944. Total contribution is $200,000
Save 10,000 a year from 35 - 65 years old and earn an 8% return. This grows to $1,132,832. Total contribution is $300,000.
STARTING TO INVEST AS SOON AS YOU CAN MATTERS!!!
show less
Our main topic today is Wealth Building for Generation Z and Millennials. Generation Z is defined as those born between 1996 and 2010, and Millennials between 1981 and 1996. Quite the spread of ages, but all worried about the same things. How can I build wealth and set myself up for financial independence?
The calculation I use in this episode is as follows:
Save 10,000 a year from 25-45 years old and earn an 8% return. This grows to 457,619 age 45. Stop contributing...but let it grow until you're 65, and it is worth $2,132,944. Total contribution is $200,000
Save 10,000 a year from 35 - 65 years old and earn an 8% return. This grows to $1,132,832. Total contribution is $300,000.
STARTING TO INVEST AS SOON AS YOU CAN MATTERS!!!
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