If I were to put 7% of my wages away each payday for 33 years, what would be the value of my investment upon retirement if I earned an average rate of return? Assuming wage increases every year with a starting annual salary of $9,672 and an. ending salary of $47,184
2007-02-20 00:09:46 · 2 answers · asked by LOUIE 1 in Business & Finance ➔ Investing
Assume a modest 8% return over the 33 year period.
2007-02-21 00:07:10 · update #1
We will need a little more information than that. An average rate of return for what? The stock market has averaged just under 12% in its life time.
On top of that, if you have an annual wage of $9, 672, you might want to consider just keeping a roof over your head and food in your belly and skip the investing.
2007-02-20 00:14:40 · answer #1 · answered by Steve H 5 · 1⤊ 0⤋
i need more information.. where will you invest your money?.. what is the rate?
2007-02-20 23:50:09 · answer #2 · answered by Gerard 2 · 0⤊ 0⤋