I recently had a young Teammate who had a truck payment of over $1,000 month tell me he “can’t afford to put any money in his 401k right now.” I told him to “enjoy his new 1.6-million-dollar truck.” He gave me a confused look as I pulled up a simple investment calculator on the Fidelity website. I showed him how if he invested $1,000 per month from 21 to 65 years old, at an 8% rate of return, he could have over 4.8 million dollars! Using those same investment numbers, if he waits just 5 years (until his truck is paid off), he would have just over 3.2 million! That’s a 1.6 million dollar DIFFERENCE by waiting 5 years. That, my friends, is how you can buy a 1.6-million-dollar pickup truck. It’s YOUR money. Choose your priorities.
This is a hypothetical example and is for illustrative purposes only. No specific investments were used in this example. Actual results will vary. Past performance does not guarantee future results. CalmWater Financial Network®, 3204 W Benjamin Ave, Suite 200, Norfolk, NE 68701 ~ (402) 371-5511
Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services are separate from and not offered through Commonwealth.
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