The Power of Compound Interest
Sara started investing $3,000 each year from age 25 to age 35 and then stopped contributing through retirement at age 65. Clint didn’t start investing until age 35 but contributed $3,000 every year until retirement at age 65. If they both earned 6.75% interest on their investments, who do you think will have more at retirement?
Even though Sara contributed $60,000 less than Clint, she came out almost $20,000 ahead because of the head start!
Start Saving Early!
This example further illustrates the importance to Start Saving Early…
While you may have not started saving/investing at age 25, the sooner you start, the better off you will be!
There’s no time like the present.
*Illustrations assume 6.75% annually compounded interest. For illustrative purposes only.