Being Citybroke is about perspective. It’s about seeing glitter in the gutter and a sense of humor when life is giving you everything you don’t exactly want and you’re hanging on for a dream that you sometimes can’t remember.
It’s not sales or survival - it’s an electronic letter from the trenches. It’s what suits who make $60K in at age 24 can’t even imagine. It’s Freedom. It’s Poverty. It’s Broken. It’s Beautiful.

Wednesday, June 4, 2008

401 Frenzy

A little bird gave me this and I find it very helpful so see why you're so screwed if you don't starting investing in your 401 NOW. Have a nice day!

Compound and Compare

Contributing regularly to your investments can make a big difference in your future savings. And with compounding—or earning “interest on interest”, the growth of your funds may be accelerated in later years. The table below shows how an investment account can grow depending on the length of time you invest, and the amount you contribute annually.

Investing until
age 65 from

$2,000 annually

(approximately $167 monthly)

$4,000 annually

(approximately $333 monthly)

$8,000 annually

(approximately $667 monthly)

age 30




age 35




age 40




age 45




age 50




age 55




age 60




The figures assume an 8% annual rate of return and tax-deferred growth. The chart is for illustrative purposes only, and does not represent the performance of any investment.

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