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Understand recurring charges

Recurring charges feel small and that can be deceiving. The total price you pay includes not just the sticker price but also the opportunity cost or the income you could have earned from investing that money. You should also consider how much it will cost you to maintain this expense after retirement. Learn more.
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To generate monthly income of $10
with a withdrawal rate of 4%
you need an investment of
$3,000
$3,000 x 0.04       = $120.00 a year 
$3,000 x 0.04 /  12 = $ 10.00 a month
$3,000 x 0.04 /  52 = $  2.31 a week 
$3,000 x 0.04 / 365 = $  0.33 a day
To save $3,000
work 8 hours a day every day nonstop for
18dys 6hrs
Total Cost Total Work
After 01 years $124 6hrs
After 02 years $257 1dy  4hrs
After 03 years $399 2dys 3hrs
After 04 years $552 3dys 3hrs
After 05 years $716 4dys 3hrs
After 06 years $892 5dys 4hrs
After 07 years $1,080 6dys 5hrs
After 08 years $1,282 8dys 0hrs
After 09 years $1,499 9dys 2hrs
After 10 years $1,731 10dys 6hrs
After 11 years $1,980 12dys 2hrs
After 12 years $2,247 14dys 0hrs
After 13 years $2,533 15dys 6hrs
After 14 years $2,840 17dys 6hrs
After 15 years $3,170 19dys 6hrs
After 16 years $3,523 22dys 0hrs
After 17 years $3,901 24dys 3hrs
After 18 years $4,307 26dys 7hrs
After 19 years $4,743 29dys 5hrs
After 20 years $5,209 32dys 4hrs