simplistic understatement, page-5

  1. 8,918 Posts.
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    Yes it is tough - had the mortgage, the kids, the university etc.

    But at about 50 I decided to put the max into super and so some years I put in $100k. Now of course $25k max - ouch!

    With the market yielding about 12% over the years it builds up quickly.

    Have been lucky in well paid work, and appreciate many can't fund to this level. So I've also put in non-consessional contributions over the years. I could have blown it all each yer but I made my choice I guess.

    $10k a year over 40 years would at 6% = $86k on the original first $10k. So I think $2m is not far out?

    Someone good at maths must know the formula?
 
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