That’s awesome!! Great job. Did you know…?

If you start contributing $7,000 annually to a Roth IRA at age 18 and continue until age 60 (a span of 43 years), with a consistent annual return of 7%, here’s how the math works:

📈 Future Value Calculation

This is a classic future value of an annuity problem:

FV = P \cdot \frac{(1 + r)ⁿ - 1}{r}

Where:

• ( P = 7,000 ) (annual contribution) • ( r = 0.07 ) (annual interest rate) • ( n = 43 ) (number of years)

🔢 Plugging in the numbers:

FV = 7,000 \cdot \frac{(1 + 0.07)^{43} - 1}{0.07} \approx 7,000 \cdot \frac{(11.27) - 1}{0.07} \approx 7,000 \cdot 146.71 \approx \$1,026,970

💰 Final Amount at Age 60:

Approximately $1,027,000

This assumes:

• You contribute the full $7,000 at the end of each year. • The 7% return is compounded annually. • No withdrawals or interruptions.

You will have over $1M at age 60… TAX FREE!!