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Consider the following example:
| Initial Investment Amount | $5,000 |
| Annual Investment Return | 7.0% |
| Regular Monthly Savings | $500 |
After 10 years of regular monthly savings and allowing the benefits of compound interest, you'll have $95,859 (consisting of $65,000 contributions and $30,859 investment returns).
After 20 years of regular monthly savings and allowing the benefits of compound interest, you'll have $277,723 (consisting of $125,000 contributions and $152,723 investment returns).
Starting a regular savings program is a great way to create wealth.
Important Information
The information provided is general in nature and does not constitute financial advice. While we have taken reasonable care in providing this information, it should not be construed as being specific to your investment objectives, financial situation or particular needs. It's important for you to consider these matters before making any financial decision and we recommend you seek financial advice.