How to become a millionaire pt. 3

Ok, I thought I'd do a quick post to justify my title "how to become a millionaire"

Warning. This post will be includes actual numbers..... and maybe some math.

If you put $5000 a year in a Roth IRA and assume 11% return on your investment every year (the Lipper average) you will get the following:

Year 1 - $5,000

Year 2 - $10,550

Year 5 - $31,139

Year 10 - $83,610

Year 15 - $172,026

Year 20 - $321,014

Year 25 - $572,066

Year 30 - $995,004

Ok, I should change the post to "how to become a 900,000 aire" but you get the point. So you're 30 years old and plan to work till your 60. That's 30 years to save! And this is only your ROTH, add that to your 401K and your a millionaire. If your under 30 that's awesome! More time to grow

Year 35 - $1,707,948

Year 40 - $2,909,130

Good thing you didn't have to retire in 2007 and experience the recession. Now is a great time to get on board.