Are you ever tempted to pull money out of your investment accounts? Sometimes it can sound like a good idea to withdraw money from retirement funds or other accounts to pay a debt or even go on a vacation. However, most of the time taking money out of the market is not a good idea! The one thing you will never be able to get back is TIME! If you take money out of an account or wait to start investing, it could be a decision that you really regret in the future when you see the value of your accounts. In most cases, people wish they had started investing sooner. I have never heard anyone say, “I should’ve waited ten more years before I started saving for retirement”.
It can be encouraging to get an idea of what your investments will be worth five, ten, fifteen, or twenty years down the road. I Was Broke. Now I’m Not. has a tool that can help you illustrate just that! The Investment Value Calculator Tool takes the current amount of the investment, the annual rate of return, the amount of time you plan to invest, and your monthly contribution and calculates the value of the investment. It also shows a range of your investment value from five years all the way to sixty years! While, of course, these returns cannot be guaranteed, the tool can allow you to imagine what these accounts have the potential to grow to. This can keep you from making an unwise decision to withdraw funds and can even tempt you to add more money to your accounts! Check it out today!
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