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Assuming 7% return on investment and that you will keep making the same amount for 10 years you would have about 80% of your annual wage in your retirement account after 10 years of investing 6%. There are investments that pay more than 7% but they are also riskier and if you are 10 years from retirement than you should be in more stable investments.
Personally I don't think I'll be able to afford retiring at 65. In the late '90's I thought that I'd be able to retire at 50. Then I lost a boatload of money in early 2000 when the market crashed and I went through a divorce a few years later. Now I'm shooting at retiring at 70. I'm trying to take care of myself so I can have a few good retirement years after 70.
the future value of your money after 10 years is 718, 129 more or less...im not sure, but its according to my calculation...






Money for retirement?
If I invest in a 401-k or an roth ira for the next 10 years, pay into the account every month at least 6%, approximately how much retirement money will be in the account?
Thank you
Pam