You said: You are &[age]; years old, and in &[years_before_invest]; year(s) you will start investing about Based on this information.... Note: This test does not correct for inflation, so you should know that a million dollars Now you can GO BACK and take the "How Much Can You Possibly Earn?" test, or scoll down and take this test again with some different numbers to get a different result. Scroll down further for an explanation of this test. |
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This test demonstrates the power of compounding interest. If you invest wisely, you can make a lot of money. But you must invest for the long term, because it is those final years where the money really starts adding up. For more information on investing, try searching Google. Q: Why do I not get the same result from both of these tests? Because this test does not correct for inflation while the other test does. The other test tells you how much you will have in "today's dollars". The value of the dollar drops each year, which is why things seemed cheaper years ago and now they are more expensive. A million dollars in the future will technically be worth less than a million dollars in today's dollars. |
You said: You are going to invest about Based on this information.... These results are in today's dollars. In other words, they are corrected for inflation. The actual dollar amount you will have in &[years]; years is Now you can GO BACK and take the "Breaking the One Million Mark" test, or scroll down to take this test again with some different numbers to get a different result. Scroll down further for an explanation of this test. |
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This test demonstrates the power of compounding interest. If you invest wisely, you can make a lot of money. But you must invest for the long term, because it is those final years where the money really starts adding up. For more information on investing, try searching Google. Q: Why do I not get the same result from both of these tests? Because this test corrects for inflation while the other test does not. This test tells you how much you will have in "today's dollars". The value of the dollar drops each year, which is why things seemed cheaper years ago and now they are more expensive. A million dollars in the future will technically be worth less than a million dollars in today's dollars. This test assumes a 3% inflation rate. |
When Will You Be A Millionaire?Below are actually two tests. The first tells you how old you will be when you will become a millionaire, and the second will show you your maximum earning potential over a given time. All you have to do is fill in the fields and press the calculate button. Feel free to take the test multiple times, entering different numbers into the fields to see what results you get! | ||
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