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Old 08-16-2011, 08:44 AM
  #9  
dundem
Gets Weekends Off
 
Joined APC: Oct 2006
Position: L Side
Posts: 409
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I can't argue with anything that's been posted above, so I'll just reiterate- it's not how much you earn, it's how much you save/spend.

I used an online compound interest calculator and ran two sets of numbers over ten years at 5% interest:

1) if you invest $48,000/year at 5% interest, you will have roughly $700,000 after ten years.

2) if you invest $36,000/year at 5% interest, you will have roughly $525,000 after ten years.

These numbers are $4,000 and $3,000/month respectively.

If you're an FO with two children in school, it is realistic to achieve either of those savings targets. It just depends on how you choose to live.
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