STEP-BY-STEP MATH
PMT = $7,000 · r = 0.09 · n = 40
1.09 raised to the power of 40 = 31.41
This means $1 invested today grows to $31.41 over 40 years.
(31.41 − 1) ÷ 0.09 = 30.41 ÷ 0.09 = 337.88
This is your "multiplier" — the power of 40 years of compounding.
$7,000 × 337.88 = $2,365,163
≈ $2.36 Million 🎉
Same formula but n = 30: (1.09³⁰ − 1) ÷ 0.09 = 136.31
$7,000 × 136.31 = $954,174
That 10-year delay costs you $1.41 Million.
MILESTONES (STARTING AT 20)
⭐ Why 9% return?
The S&P 500 has historically averaged ~10% annually before inflation. Using 9% is a conservative, realistic assumption for a TFSA invested in a broad index ETF like XEQT or VEQT.
Past performance doesn't guarantee future results. Always invest within your risk tolerance.
🌱
The best time to start was yesterday.
The second best time is today.
*Returns are not guaranteed. This is not financial advice.
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