Retirement
from24/7 Wall St.
4 days agoI Achieved A $2.4 Million Net Worth with an $80,000 Salary
Consistent early investing combined with frugal living enabled a person earning $60k–$80k to accumulate a $2.4M net worth before age 40.
By investing $100 every month from the ages of 25 to 65 into the likes of a Roth individual retirement account (IRA), Gen Z could retire as millionaires. "With a 12% annual average rate of return-the markets can do that for you-you'd have a million dollars," she explains. Depositing a monthly investment of $100 into an account with a 12% yield would net someone approximately $1,188,342 in 40 years' time.