> 401K Scenario Question?

401K Scenario Question?

Posted at: 2014-12-05 
Over 24 years, in a Growth Stock Mutual fund you can reasonably anticipate earning between an average of 7% (worst case) and 12% (best case) per annum, so starting now with $65K ,you will end up with between $219,428 & $394,243 from your current assets, and if you continue contributing (and increase 1% a year), somewhere between $419,654 and $747,437

I'm currently contributing a six percent roth after tax contribution to my work 401k like retirement plan. I am in some kind of common stock fund. There seems to be a 6-8 percent 15 year average on return. I'm looking to increase my contribution 1 percent every year until I retire at 60. I'm figuring my average salary during the course of my career will be 85,000 without future inflation calculated in. I am 36 years old and have 65K in my fund. Based on this sketchy information how much will I have when I retire?