Here's An Easy Way To Get $4 Million Richer: Cut The Cable Bill NOW

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Here’s another reason to cut the cord on your cable TV subscription: If you invested the savings in a Roth IRA, you could be a millionaire.

20 Something Finance makes a compelling argument for this, crunching the numbers to illustrate how much consumers would save if they ditched their monthly cable bill (the average cost is $75, according to CNN Money.)

Assuming you started paying for cable at age 23 and continued until you were 80, if the bill went up about $3.75 in today’s dollars, you’d spend about $53,865 over 57 years.

That’s a lot of money to splurge on “Iron Chef” marathons.

20 Something Finance’s snapshot of what the returns would be if you socked that money away in a Roth IRA using AARP’s investment return calculator is even more sobering:

  • 4%: $634,970
  • 6%: $1,102,950
  • 8%: $2,081,549
  • 10%: $4,209,990 *Note: These are not BI’s numbers. 20 Something Finance crunched them.

Sound off: Are you cutting out cable this year? What else are you doing to save?

DON’T MISS: The Best Alternatives To Paying For Cable TV >

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