Is it possible to save $585,000 for retirement instead of $310,000 without requiring much more to be invested every month?
A)Probably not with inflation working against you
B)Depends upon the interest rate or return you earn on the investment as well as the number of years until retirement
C)Absolutely not
D)There is not enough information to answer this question.

Question

Quizplus · Accepted Answer

The amount saved for retirement depends on the interest rate or return on the investment and the number of years until retirement. It is possible to save more with a higher return on investment or a longer time period. Therefore, it is possible to save $585,000 if one is able to increase the return on investment or extend the time period for saving.

Is It Possible to Save $585,000 for Retirement Instead of $310,000