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The Dollar Diva
Posted: Tuesday, 11 March 2008 6:24PM

March 11, 2008

What does it take to be a Millionaire?

Here is a fun chart to see just where you are at with your own retirement planning. The younger you are when you start the less you will need to save!

Assumptions:   
Future value          $1,000,000  
Retirement age                    67  
Annual return %                     8   
    
    
                              One   
                             Time              Monthly         Yearly
     Age             Investment    Investment  Investment
 ------------          ------------        ------------      ------------
     20                  $26,859            $161           $2,208
     25                    39,464               243             3,287
     30                    57,986               368             4,924
     35                    85,200               564             7,451
     40                  125,187               876          11,448
     45                  183,941            1,395         18,032
     50                  270,269            2,316         29,629
     55                  397,114            4,158         52,695
     60                  583,490            8,920       112,072
     65                  857,339   

 
 
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Today's Audio
 
 
Reliving the storm
Barnstead, New Hampshire, resident Carey Pellens describes Thursday's storm for WBZ's Deb Lawler.
     
Sununu reacts to the storms
New Hampshire Senator John Sununu tells WBZ's Lisa Meyer it will be some time before the scope of the damage from Thursday's storms is fully known.
     
Patriots open camp: Tom Brady looks ahead
Patriots quarterback Tom Brady says no sense looking back because you can't change the outcome of the Super Bowl.
     
Keller At Large 7/24/2008
Jon Keller talks about "political correctness" night at the home of the Lowell Spinners.
     
Cellphone warning
ABC News medical consultant Dr. Marie Savard talks with WBZ's Deb Lawler about the latest warning concerning the use of cellphones.
     
Minute clinics
Harvard Pilgrim Health Care CEO Charlie Baker talks with Ed Walsh about plans to open health clinics at two leading drug store chains.
     
Obama in Germany
ABC chief political correspondent Jake Tapper talks with WBZ's Ed Walsh about the next stop on Barack Obama's overseas trip: Germany.
     
Analyzing Obama's trip
ABC political commentator George Stephanopoulos talks with WBZ News about the week-long journey across the Middle East and Europe by Democratic presidential candidate Barack Obama.
     
The Parent Report: Education Poll
WBZ's Doug Cope talks about your child's grade school education.
     
Money Matters - Good Stuff Cheap: Clothes
WBZ's Dee Lee has some fashion tips, on the cheap!
     
Red Sox 6 Seattle 3 Postgame: Mike Lowell
Red Sox third baseman with WBZ's Jon Miller following the team's 6-3, 12-inning win over the Mariners to complete a 3-game sweep in Seattle.
     
Red Sox 6 Seattle 3 Postgame: Kevin Youkilis
Red Sox first baseman Kevin Youkilis with WBZ's Jon Miller following the team's 6-3, 12-inning win over the Mariners to complete a 3-game sweep in Seattle.
     
Red Sox 6 Seattle 3 Postgame: Justin Masterson
Red Sox relief pitcher Justin Masterson with WBZ's Jon Miller following the team's 6-3, 12-inning win over the Mariners to complete a 3-game sweep in Seattle.
     
Red Sox 6 Seattle 3 Postgame: Clay Buchholz
Red Sox starting pitcher Clay Buchholz with WBZ's Jon Miller following the team's 6-3, 12-inning win over the Mariners to complete a 3-game sweep in Seattle.
     
2008 07 23 Red Sox 6 Seattle 3 Postgame: Terry Francona
Red Sox manager Terry Francona with WBZ's Jon Miller following the team's 6-3, 12-inning win over the Mariners to complete a 3-game sweep in Seattle.
     
Parent Report: Baby Boomlet
WBZ's Doug Cope talks about the sudden boom in births.
     
Money Matters - Good Stuff Cheap: Travel
WBZ's Dee Lee talks about ways to save on travel.
     
Irish Republican Army dissidents threaten to attack Catholic police officers
WBZ's Laurie Kirby speaks to CBS' Trevor Birney in Belfast.
     
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