Millionaire Calculator

Reported by: Melissa Vega
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Updated: 3/02 7:56 am
SAN ANTONIO--How long would it take you to save a million dollars for retirement? Try the "Millionaire Calculator"  CLICK HERE...

College student 21-year-old Ashley Ramirez was pretty surprised by her results.

"It's not that far out of reach like I thought it was," said Ramirez.

Ramirez plugged in her own number in the calculator and could reach millionaire status by age 67.

While we may not have control of today's economy, we do have control of our spending and savings.

"It really comes down to putting in as much as you can as frequently and as quick as you can," said Victor J. Larsen, President of Larsen Financial Management.

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The views expressed here do not necessarily represent those of News 4 WOAI (WOAI.com)

sdsmithtx1 - 3/2/2012 8:35 AM
0 Votes
Lucky to find a 15% return? Better switch your financial manager.

charlie50 - 3/2/2012 7:56 AM
0 Votes
Looks like ill be dead long before im a millionaire . dont think ill make it to a 113 yrs old . but im happy now so that's gotta be worth something

mmqc76 - 3/2/2012 6:39 AM
5 Votes
This is aimed at the young, naive and unobservant. The default interest rate on the calculator is 15%. You would have to be incredibly lucky to find a way to invest that would return 15% annually. I plugged in a more realistic rate and found that I could be a millionaire by the age of 136. LOL

Gerlado - 3/2/2012 5:24 AM
0 Votes
Bull shorts. The only way to lift yourself out of poverty or improve your financial position -regarless of how high you are reaching- is through hard work and budgeting. Methods always fall out of those two fundamentals.

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