How old will you be when you save One Million Dollars?!?!?

I will be 60 years old when I hit the big one million. I have to save 15% of my annual salary.


http://swz.salary.com/millionairemaker/layoutscripts/mlcl_start.asp



Hmmmm lets see, if I live to be 90, then my monthly withdrawals from my savings(after 60) would be $2777!!! I don't think I could live on that.....

:( I'll be 163. Figures.

158 :flash: lol

Just remembered that the money will still be earning interest while I am withdrawing on it. Does anybody know the formulation to find out how much you can withdraw annually and still factor in the interest applied to what is left still in the bank???

EDIT: I found a withdrawal calculator!!
http://www.americantrust.com/financial_plan/retirementdist.html

Originally posted by Pikachoo
I will be 60 years old when I hit the big one million. I have to save 15% of my annual salary.


http://swz.salary.com/millionairemaker/layoutscripts/mlcl_start.asp



Hmmmm lets see, if I live to be 90, then my monthly withdrawals from my savings(after 60) would be $2777!!! I don't think I could live on that.....


Been there, done that.

Dead :(

When I'm 92. Ha, I could still be alive when I hit 1,000,000. And I'm only making $6.25 an hour.:silly2: Ahhh, its good to be young. I'm gonna be 92 years old, cruising around in my F40.

It's SO much easier in NZ Dollars........5.45pm next Wednesday:silly2: :silly2: :silly2: :silly2:

I'll be 81, but thats b$ because I only made $500 last year and am going to make 1000 times taht when I get a job

Originally posted by taranaki
It's SO much easier in NZ Dollars........5.45pm next Wednesday:silly2: :silly2: :silly2: :silly2:

Well its even EASIER in Mozambique Meticals, where...
1,000,000 Mozambique Metical = 43.01075 US Dollar
1,000,000 US Dollar (USD) = 23,250,000,000 Mozambique Metical (MZM)

Originally posted by YellowMaranello


Well its even EASIER in Mozambique Meticals, where...
1,000,000 Mozambique Metical = 43.01075 US Dollar
1,000,000 US Dollar (USD) = 23,250,000,000 Mozambique Metical (MZM)

I think you'll find Turkish Lira even easier...

$1.00usd = 1,460,000.00 trl

so we are all millionaires in Turkey :p

82 years the boring way:(

i'll be 45 years old, i can smell that red 512TR already.

If i continue at my current savings plan

This savings plan will make you a millionaire at age 48 years old

I like the sound of this but I don't think it's going to happen.