 |
|
Savings Information |
The following chart demonstrates how a
20 year old individual saving just $25.00 per week can retire at age 65 with
an extra million dollars.
|
|
0% Interest
|
4% Interest
|
7% Interest
|
10% Interest
|
| 5 Years |
$6,500.00 |
$7,322.87 |
$7,999.28 |
$8,730.29 |
|
10 Years |
$13,000.00 |
$16,232.26 |
$19,218.68 |
$22,790.29 |
|
15 Years |
$19,500.00 |
$27,071.89 |
$34,954.47 |
$45,434.65 |
|
20 Years |
$26,000.00 |
$40,259.96 |
$57,024.73 |
$81,903.25 |
|
25 Years |
$32,500.00 |
$56,305.27 |
$87,979.41 |
$140,636.29 |
|
30 Years |
$39,000.00 |
$75,826.84 |
$131,394.95 |
$235,226.45 |
|
35 Years |
$45,500.00 |
$99,577.81 |
$192,287.50 |
$387,564.85 |
|
40 Years |
$52,000.00 |
$128,474.50 |
$277,692.44 |
$632,907.35 |
|
45 Years |
$58,500.00 |
$163,631.74 |
$397,477.29 |
$1,028,033.92 |
This chart assumes savings
is invested in tax free investments.
This chart shows the amazing result of saving plus compounding interest.
Compounding of interest has wonderful results when combined with time.
A parent saving a few dollars a week in an account for their child and then
teaching them to continue saving once they are on their own will result in a
very wealthy person when they are older. The earlier a person saves and
allows that money to work for them over time, the wealthier they will be.
UNITED|WE SAVE
|
| |
|
 |
