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re: 100k Club

Posted on 8/23/22 at 12:57 am to
Posted by go ta hell ole miss
Member since Jan 2007
13664 posts
Posted on 8/23/22 at 12:57 am to
quote:

It's like $1,500 a month after tax. Not to mention it's a 25% increase in your pretax contributions.


I am terrible with math. I actually thought it was a 33% increase (25k is 33% of 75k). It’s significant, though.

Investing $1500 a month (after tax amount) for 20 years at 5% returns is $600,000. That’s a second home at a desirable location or retiring two-three years earlier for most.
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