Post by @jordfinance

The earlier you start investing, the less money you need to reach $1 million by 65. These numbers assume an average annual return of 8%, with monthly investments compounded monthly and one-time investments compounded annually. An 8% return isn’t guaranteed, and actual returns will change from year to year. This also doesn’t account for inflation, taxes or investment fees, so $1 million in the future won’t have the same purchasing power it does today. The point isn’t that everyone needs $1 million. It’s to show how much time and compound growth can reduce the amount you need to invest yourself. For educational purposes only. Not financial advice. #canada #tfsa #investing #PersonalFinance