This is it! If you never read another word about personal finance or look at another infographic, then just make sure to look at this one.
This is the power of investing only $100/week. $14/day. Many of us can afford to save $14/day.
If we automate the investing, then there is no need to even think about it. A person could call their bank, credit union or employer and have $100/week automatically placed in their Individual Retirement Account.
Therefore, assuming an 8% return on investment as part of a balanced stock index and bond index portfolio:
In 22 years that would equal $500,000!
In 33 years that would be about $1 million!
In 45 years that would be about $2 million!
This may seem like a long time, but many of us know that 20 years flys by pretty fast. Then the next 10 years seems to go even faster when you are busy working and raising a family. That is 30 years!
As you can see from the Money Viking Cartoon, most of the gains come from the compounding effect of the investment, and not from your contribution. This is the basics that almost anyone in the middle class can accomplish. If you want to take investing to the next level, then a person could harness the power of the Investing Trifecta!