Example of a Long-Term Goal: Beginning January 2020, contribute $600 per month (2,000 per year) to my Roth IRA for 40 years earning a rate of 8% per year for an ending balance of $518,113 on December 31, 2060. (This example used a time value of money calculation of N = 40, PMT = 2000, I = 8%)

Based upon this example, create two other long term goals.