Compound Interest determine whether you can retire a millionaire or not

So can you retire a millionaire? Yes, and NO!...
NO! if you keep your money under the pillow ( also can apply to savings account which offer no interest at all)
Basic maths, RM500 x 12 = RM6000/year
RM6000 x 30 = RM180,000..
NO CHANCE AT ALL!


If you are earning a 10% interest per annum?..Ok,let's see..
RM6000/year
1st year = 6,600
2nd year = 13,860
3rd year = 21,846
4th year = 30,631
5th year = 40,294
6th year = 50,923
7th year = 62,615
8th year = 75,477
9th year = 89,625
10th year = 105,187

So at this stage,you have your own family, and there more commitments to meet. Now you can only manage to save RM250 per month = RM3000/year

11th year = 119,006
12th year = 134,206
13th year = 150,927
14th year = 169,320
15th year = 189,552
16th year = 211,807
17th year = 236,287
18th year = 263,216
19th year = 292,838
20th year = 325,421

At this stage, you'll want to let yourself and your family to enjoy some luxury. So now you decided to stop saving every month.
Compounding Factor= (1+10%) to the power of 12 = 3.14

The exact figure is actually RM1,021,822. Congratulations! You are a millionaire!...

The exact money saved is only RM90,000, but compound interest turn you into a Millionaire!..