EARNINGS & SAVINGS CHART
|
AVERAGE SALARY |
10% SAVINGS YEARLY |
Compounding Factor Rounded |
FUTURE RETIREMENT FUND |
|
25 |
$20,000 |
$2,000 |
443 |
$886,000 |
|
30 |
$30,000 |
$3,000 |
271 |
$813,000 |
|
35 |
$40,000 |
$4,000 |
164 |
$656,000 |
|
40 |
$60,000 |
$6,000 |
98 |
$588,000 |
|
45 |
$70,000 |
$7,000 |
57 |
$399,000 |
|
50 |
$80,000 |
$8,000 |
32 |
$256,000 |
|
55 |
$90,000 |
$9,000 |
16 |
$144,000 |
|
60 |
$100,000 |
$10,000 |
6 |
$60,000 |
YOU
NEED TO PLAN TODAY FOR YOUR TOMORROW!!!
This chart is designed to show us how much we could save for our retirement fund.
I
assumed an annual 10% savings, coupled with a 10% compounded annual return on
our investments and a typical retirement at age 65. Thus, the 25 year old, had 40 years to save, while the 60
year old only had 5 years!
By the way, 10% returns for certain stock market
investments, over a long period of time are not uncommon!
Let’s look at the 40 year old! Salary of $60,000,
savings of $6,000 a year for 25 years. Total
out of pocket savings, $6,000 times 25, equals $150,000. Yet the retirement
fund balance is
$588,000!!
DO
YOU SEE THE POWER OF COMPOUNDING??!!
The average salaries were just wild guesses, so I left some columns for your actual input. 25 Year OLD, just check to see how an IRA would benefit you, if you started today!
YOU NEED TO PLAN TODAY FOR YOUR TOMORROW!!!
NO MATTER THE AMOUNT START NOW!
Check
out this Retirement Calculator
Then,
Let's Take A Look at Your Possible Income Needs During Retirement!
For those of you who may just be starting on the road
to financial freedom, please be sure that you see the outline,
I CAN EMAIL ANY O
F THESE EXCEL WORKSHEETS FOR YOU TO USE.
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