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<blockquote data-quote="3brownstars" data-source="post: 188070" data-attributes="member: 5829"><p>The first thing you need to do if you want to talk numbers is talk to a financial planner and find out what the market has averaged in the past.</p><p> </p><p>Just for the sake of argument, let's say the market will <u>average</u> 12% for the next 50 years and the weekly contribution never goes up again ($214/week).</p><p> </p><p>$214/week @ 12% for 30years = $2,919,000 approx.</p><p> </p><p>If you only take 10% of that out each year that would be $291,900 now divide that by 12 months = $24,325/month.</p><p> </p><p>Ok, you say 12% is pie in the sky. Let's do 6% (that is just above current CD rates).</p><p>$214/week @ 6% for 30years = $831,300 approx</p><p> </p><p>If you just take out the intrest of 6% each year that is $49,878.</p><p>Divide that by 12 = $4,156.5/month.</p><p> </p><p>Albert Einstein said the most powerful force in the universe is compounding intrest. The reason 705Red didn't factor in the intrest in his calculations is he knows the IBT will be skimming that money off the top.</p></blockquote><p></p>
[QUOTE="3brownstars, post: 188070, member: 5829"] The first thing you need to do if you want to talk numbers is talk to a financial planner and find out what the market has averaged in the past. Just for the sake of argument, let's say the market will [U]average[/U] 12% for the next 50 years and the weekly contribution never goes up again ($214/week). $214/week @ 12% for 30years = $2,919,000 approx. If you only take 10% of that out each year that would be $291,900 now divide that by 12 months = $24,325/month. Ok, you say 12% is pie in the sky. Let's do 6% (that is just above current CD rates). $214/week @ 6% for 30years = $831,300 approx If you just take out the intrest of 6% each year that is $49,878. Divide that by 12 = $4,156.5/month. Albert Einstein said the most powerful force in the universe is compounding intrest. The reason 705Red didn't factor in the intrest in his calculations is he knows the IBT will be skimming that money off the top. [/QUOTE]
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