of youth. By investing early, he gives himself many years to prosper in bull markets as well as to withstand occasional declines during bear markets. Using a hypothetical 8% return, if he invested $100 monthly into a growth mutual fund, his investments would grow to more than $57,000 in 20 years and $140,000 in more than 30 years.
Financial Snapshot: Jeff Wilson II
|
HOUSEHOLD INCOME |
|
| Gross Income | $50,000 |
| ASSETS | |
| Money Market Account | $600 |
| ING Direct Money Market Account | 2,600 |
| Savings Account | 600 |
| Checking Account | 400 |
| IRA | 1,300 |
| Individual Stocks | 10,000 |
| Total | $15,500 |
|
LIABILITIES |
|
| Student Loans | $12,000 |
| Credit Card Debt | 300 |
| Total | $12,300 |
| NET WORTH | $3,200 |
