If one invests $500 per month into a retirement account consistently earning 8% per year for 40 years, the total balance is predicted to reach $1.67 million.
"if you want a guaranteed way of being rich this is Frank L it pretend you're able to invest $500 a month into a retirement account earning you around 8% per year as a rate of return... you now have $1.43 million in gains when you put in a total of $240,000 over this period that brings your total future balance to $1.67 million."
