Categories: Personal Finance

11 Expert Tricks for $1 Million Just Using Your 401(k) Plan

Start early

“You can’t control the market, but you can control your contributions and take advantage of the most fundamental and powerful force when it comes to investing – compounding interest,” says Andrew Almeida, a certified financial planner in Islandia, New York.

If you start now from zero and maximize your 401(k) contributions, adding $18,500 each year (the 2018 limit), it will take just shy of 27 years for you to become a 401(k) millionaire. (That calculation assumes a conservative 5 percent annual return.)

Tudor Zaharia

Page: 1 2 3 4 5 6 7 8 9 10 11 12

Tudor Zaharia

Share
Published by
Tudor Zaharia

Recent Posts

Cut Your Costco Bill With These 17 Smart Tips

Shopping at Costco can be a great way to save money, but you might not…

6 years ago

10 Items That Will Change Your Mind About Generic Brands

Not too many years ago, cutting expenses by buying a generic brand brought with it…

6 years ago

10 Useless Things That Destroy Your Budget Nice and Slow

No matter what type of budget you’re working with, there’s a chance you’re overspending on…

6 years ago

20 Retailers Renowned for Free Shipping All Year Round

Online shopping means customers all over the world have greater access to everything from rare…

6 years ago

28 Unconventional Ways to Make Money That Are Totally Legal

If the lyrics to the Dolly Parton song “9 to 5” could be your autobiography,…

6 years ago

30 Best Ways to Get Some Easy Money in 2019

If you think you’re the only one hurting for money, think again: Making more money…

6 years ago