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Start a regular savings program

by Andrew Newman
in Investing
30 Mar 2009  | 0 Comments

 

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 above information provides an overview or summary only and it shouldn’t be considered a comprehensive statement on any matter or relied upon as such. The above information doesn’t take into account your personal objectives, financial situation or needs. It’s important for you to consider these matters before making any financial decision and I recommend you seek help from a financial adviser.

 
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