Friendly real world reminder to all you youngish EMAW's that compounding interest is the 8th wonder of the world and you should invest as much as you can as early as you can.
Was playing around with some calculators and if I never contributed another $ to my retirement accounts I am projected to be a millionaire in 30 years. (Assumes 7% growth)
This is true. Buy what I tell all youngsters is the first thing they should do is save up to buy a duplex or fourplex as their first house. Most people spend 1/3-1/4 of their income on housing. If you do what I say the right way, you will basically keep most of that money in your pocket, which essentially you're giving yourself a 25-33% raise.
At that point, you can pocket a huge chunk of your income to reinvest. I would recommend reinvesting in real estate, but other investments would work too if you're more comfortable with it. But the numbers are paltry compared to what I've experienced in real estate. Granted, I'm not stock market savvy. Seems like even people that work in that space are hit or miss.
I expect double digits cash on cash return with real estate, hopefully closer to 15%. That excludes the principle pay down, appreciation, and tax benefits. You can't count on appreciation, but the rest of it you can if you run your numbers right.