When to Start Saving - page2When to start saving - page1

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 So, if Micheale were to save as much as $ 1380, and start saving at 23, the following will be the result.

            Please note in the above table, there was no Yearly contribution was made after age 30, yet , Micheale gets what, he wants,($200000) at age 65, as a result of compounding of his early savings. So, if he had started early, with the same amount at age 23, he would have reached his goal, with savings from just 8 years, so a delay of 10 years meant, contributing yearly for 32 years(65-33)!

   You may want to :

                     Use Savings Calculator  , to see how contribution and age affects your final savings
                                                        or
                     Go to Pension Estimator , for comprehensive retirement planning!