How Will Saving $2000 Now Impact Me In 40 Years?

So yesterday I got to thinking about how I would be impacting my retirement account by taking out the $2000.00 for the emergency root canal procedure I bought myself yesterday. How would that money have worked for me over the next 40 years till retirement? Well, if I would have just had that $2000.00 and never added any more too it, compounding interest (at a standard 10%) would have made me ~$78,500 by 2047! That’s the power of compounding interest! Look at the graph here (click to enlarge):

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Well, that’s a good chunk of change I just flushed away on teeth problems. Well, technically it could kill you if you keep an abscessed tooth in, but that’s beside the point, we’re talking retirement money here!

Filed Under: adviceInvestingNet WorthPortfolioRetirementUncategorized