Your goal is to have $2,000,000. you have a total of $40,000 today. you invest the $40,000 and want to add to it each month. at 10% annual interest, how much do you need to invest each month in order to bring the total up to $2,000,000 30 years from now?

If we want to have $ 2,000,000 for the next 30 years.

Then we will invest $ 40,000 per year with an additional 10% connection, which is $ 4,000

Then we must add $ 1,892 every month.

$ 40,000 (initial investment) + $ 4,000 (10% investment interest per year) = $ 44,000

$ 44,000 x 30 years = $ 1,320,000

Our target is $ 2,000,000

$ 2,000,000 - $ 1,320,000 = $ 680,000

$ 680,000 / 30 years = $ 22,700 (savings added every year)

So for 1 month we have to add savings of:

$ 22,700 / 12 months = $ 1,892

If we multiply by 30 years then:

$ 1,892 x 360 months (30 years) = $ 681,120

$ 1,320,000 + $ 681,120 = $ 2,001,120

That way we can reach $ 2,000,000 in 30 years.

Many parents who have entered retirement do not plan for retirement properly. Most of them are sorry. Because this is very important for your future and family, it never hurts us to learn from the mistakes of our parents' generation in planning for retirement.

Even if your job does not require a degree in economics, having a basic knowledge of business and finance can help you invest well. Therefore, it is not uncommon for someone who enters retirement, finally confused when he wants to start a business.

Feeling a small salary, always running out, and ultimately not (ever) investing. In fact, whatever your salary, you should set aside some parts for investment.

Buying high-quality items that are durable is a smart purchase. However, it does not mean it is an investment. Many people are confused by these two things. Know objects such as cars and clothing experience depreciation over time.

Many of our parents' generation saved too little of the amount they needed to retire. Therefore, saving future savings must be done as early as possible.

All the hard work you do while still productive will not be useful if you do not take care of yourself properly.

Learn More

Saving  

investment  

Details

Grade: College

Subject: Business

Keyword: saving, invest, goal

by knowing conditionality

explanation:

answer$225.00;