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Do ya'll believe in your retirement doubles every 5-7 years talk?
Posted on 7/7/24 at 7:12 pm
Posted on 7/7/24 at 7:12 pm
Hear people say this. Looking at my retirement history it seems pretty accurate overall. I hear if you put a set amount of money and never add to it it should double every 5-7 years in a regular retirement account. That doesn't seem to bad to me.
13
Posted on 7/7/24 at 7:15 pm to Mushroom1968
It’s all dependent upon how much you are putting in And what the market has done.
Posted on 7/7/24 at 7:17 pm to Tigerstark
I agree, I just mean average overall say 30 years. Mine has been pretty close. I'm in a 457b, all mutual funds. I'd say it's closer to doubling every 7 years though, say over the last 28 years.
Posted on 7/7/24 at 7:24 pm to Mushroom1968
For the long history of the USStock Market.
Doubling occurs about every 7-10 years.
Of course at some point, you can’t take it with you, and you will have a spending phase.
Doubling occurs about every 7-10 years.
Of course at some point, you can’t take it with you, and you will have a spending phase.
Posted on 7/7/24 at 7:25 pm to Mushroom1968
Think they call it rule of 72. Divide 72 by the expected interest rate and that’s close to the time needed to double. So 10% would be close to 7 years
Posted on 7/7/24 at 8:12 pm to Mushroom1968
On average, you'd need to compound 10.41% for seven years to double your initial investment. 14.87% to double in five years.
We've had a really good run the last decade, so yeah, doubling every seven years isn't outlandish. With that said, generally speaking, you're not suppose to "plan" for better than about 7% per year, which would take a touch over a decade to double.
We've had a really good run the last decade, so yeah, doubling every seven years isn't outlandish. With that said, generally speaking, you're not suppose to "plan" for better than about 7% per year, which would take a touch over a decade to double.
Posted on 7/7/24 at 9:14 pm to Mushroom1968
Thanks for the replies.
Posted on 7/8/24 at 4:33 am to Joshjrn
I would think the 5/7 year doubling is also based on your annual contributions.
Posted on 7/8/24 at 6:01 am to Mushroom1968
I can see that being the case over the past couple of decades. For me, the biggest driver was switching jobs 8 years ago to a company that dumps a bunch of money into my 401k. Prior to that, I never worked for an employer that matched.
Posted on 7/8/24 at 6:26 am to Mushroom1968
At 10% money will double about every 7 years. At 7% about every 10 years. This is just interest, not additional contributions.
Posted on 7/8/24 at 7:41 am to Mushroom1968
Agree. just checked my 401k and mine doubled from 2021 to 2024. Just got to hope the market can keep pumping. Any type of major interruption to country for long time period could send this all crashing back down.
Posted on 7/8/24 at 7:47 am to Mushroom1968
Investing in NVIDIA has made it double faster
Posted on 7/8/24 at 7:54 am to C
quote:
I would think the 5/7 year doubling is also based on your annual contributions.
That would be heavily influenced by how long you had been investing.
With that said, he specifically asked about investing a set amount and not adding to it.
Posted on 7/8/24 at 9:43 am to Mushroom1968
5-7 is not typical. More like 7-10 in the long run.
Posted on 7/8/24 at 10:29 am to Mushroom1968
Depends on what it’s invested in, too. I’ve seen some people on here post about their 401k with employers that have some pretty good options, I’ve seen some that have said they have some pretty bad options.
The company I work for, there are a lot of people who are aggressive with their 401k and have a large chunk invested in the companies stock. Anyone doing that would have their 401k doubling just about every 3-4 years with it tripling since Covid.
The company I work for, there are a lot of people who are aggressive with their 401k and have a large chunk invested in the companies stock. Anyone doing that would have their 401k doubling just about every 3-4 years with it tripling since Covid.
Posted on 7/8/24 at 12:20 pm to Mushroom1968
Rule of 72 baw
Posted on 7/8/24 at 3:01 pm to Mushroom1968
I appreciate all the replies and good explanations. I did not know about the rule of 72. Learned good stuff, thank ya'll.
Posted on 7/8/24 at 6:16 pm to jizzle6609
quote:
Rule of 72 baw
This
Divide the rate of return into 72 and it will tell you how long to double
Ie
A 7.2% annual return will take 10 years to double
Posted on 7/9/24 at 3:28 pm to Mushroom1968
quote:
I appreciate all the replies and good explanations. I did not know about the rule of 72. Learned good stuff, thank ya'll.
Stick around here and read the posts daily if you can.
There are some seriously good minds in here.
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