As mentioned earlier, this part will be about identifying my goals as a 19 year old investor.
So what goals do I have in mind? What do I plan for? What do I want to be in my future?
Goals
23 years later: 42 year old (year 2040) - $1,000,000
15 years later: 35 year old (year 2033) - $500,000
12 years later: 31 year old (year 2029) - $250,000
7 years later: 26 years old (year 2024) - $100,000
5 years later: 24 year old (year 2022) - $50,000
1 year later: 20 year old (year 2018) - $10,000
Assuming a conservative returns of 5% per year, excluding capital gains. From playing around with excel functions, this is what I have in mind:
Wow.. now it seems a little bit tough here.
I've also increased my targets for this year slightly to $7,000 as well as setting another goal to achieve ......