New college grad, no idea what to do with money long term.

Steven Barrett said:
If you contribute to a pension for 40 years at 6% return, you need to contribute €1,004 a month to get €2 million. That is a total of €481,920 contribute.

If the OP waits until they are 30 and have 32 years contributions, they need to contribute €1,727 or €663,168.
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You need to amend that to read

If you contribute to a pension for 40 years at 6% return, you need to contribute €1,004 a month to get €2 million. That is a total of €481,920* contribute.

If the OP waits until they are 30, burning €1,004 per month for 8 years, and have 32 years contributions, they need to contribute €1,727 or €663,168.*

*assuming a € today is the same value as a euro in 40 years time.

This is the point that you are all missing. If he invests the €1,004 per month in something other than a pension, he will be able to buy a house earlier.

Brendan
 
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