Contributed by nickel | April 20, 2005 07:51 PM PST
There's a nice (albeit very simplistic) article over on MSN Money illustrating how you can turn a dollar a day in $67,815. Nothing magic here... Just the old 'tuck a buck a day away,' but it's still a good reminder. Simply save an average of a dollar per day in spare change and dump it into a Roth IRA. Over 30 years this amounts to just under $11k but, assuming you can pull down an average annual return of 10%, you'll wind up with just under $68k. The author also provides a number of other money saving tips, along with the impressive results if you invest these savings. Don't you just love the effects of compounding? Check it out if you need some money-saving inspiration.
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"Turn $1/Day into $67,815" was first published at fivecentnickel.com
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