| “Steady plodding brings prosperity; hasty speculation brings poverty." — Proverbs 21: 5 |
It Really Pays to Save!
Saving money can be tough, but it's a smart habit that can pay
off when you need it the most. The earlier you start saving and
investing, the more time your money works for you to achieve
your goal of financial independence.
The best way to save is automatically. Contact your
employer's payroll department to arrange for an automatic
withdrawal from your paycheck to your savings account,
mutual fund or other investment. Soon, you won’t even miss
the money deducted from your paycheck since you'll adjust
your lifestyle to live on what’s left. And down the road, the
money you save today can make a tremendous difference to
your way of life in the future.
Look at these examples:
$100 saved every month for 40 years at 12% interest will
grow to $1,176,477.
Just $1 a day for 49 years invested at 12% interest will
grow to $1 million.
Saving $65 every month for 45 years at 12% interest will
give you $1,394,555.
$253 invested every month over 20 years at 12%
interest would yield a cool quarter million ($250,281).
Even $102 invested each month for 20 years grows to a
six-figure retirement nest egg of $100,904. And that
amount invested at 12% would pay you $1,000 every
month FOREVER if you live off that income and don't
touch the principal!
The Power of Compounding
While the interest rate is important, it's interest compounding
that really makes your investment grow. For instance, money
invested at 12% will snowball into a nest egg more than twice
as large as the same amount invested for the same length of
time at 6%, even though the interest rate is just twice a high:
$100 invested monthly for 20 years at 6% = $46,204.08
$100 invested monthly for 20 years at 12% = $98,925.53
In this example, the Power Of Compounding makes your
investment grow an extra $6,517.37.
Why? Because each month, your investment pays not
only on the money you've deposited, but also on the
interest your investment has already earned. This
escalated savings is the Power of Compounding!
Just look at THIS TABLE to see for yourself.
To find out how fast your savings can add up, CLICK HERE
for a handy Saving/Investing Calculator. Fill out the form by
entering the dollar amount you can save every month, plus the
interest rate your bank or other investment pays.
You'll be amazed at how fast your money can grow, one
small step at a time!
The Money Tree
"The most powerful force in the universe is compound interest."
-- Albert Einstein
Want to find out why it pays to save (and save early)? A little
lesson called The Money Tree tells the big story!
Saving money can be tough, but it's a smart habit that can pay
off when you need it the most. The earlier you start saving and
investing, the more time your money works for you to achieve
your goal of financial independence.
The best way to save is automatically. Contact your
employer's payroll department to arrange for an automatic
withdrawal from your paycheck to your savings account,
mutual fund or other investment. Soon, you won’t even miss
the money deducted from your paycheck since you'll adjust
your lifestyle to live on what’s left. And down the road, the
money you save today can make a tremendous difference to
your way of life in the future.
Look at these examples:
$100 saved every month for 40 years at 12% interest will
grow to $1,176,477.
Just $1 a day for 49 years invested at 12% interest will
grow to $1 million.
Saving $65 every month for 45 years at 12% interest will
give you $1,394,555.
$253 invested every month over 20 years at 12%
interest would yield a cool quarter million ($250,281).
Even $102 invested each month for 20 years grows to a
six-figure retirement nest egg of $100,904. And that
amount invested at 12% would pay you $1,000 every
month FOREVER if you live off that income and don't
touch the principal!
The Power of Compounding
While the interest rate is important, it's interest compounding
that really makes your investment grow. For instance, money
invested at 12% will snowball into a nest egg more than twice
as large as the same amount invested for the same length of
time at 6%, even though the interest rate is just twice a high:
$100 invested monthly for 20 years at 6% = $46,204.08
$100 invested monthly for 20 years at 12% = $98,925.53
In this example, the Power Of Compounding makes your
investment grow an extra $6,517.37.
Why? Because each month, your investment pays not
only on the money you've deposited, but also on the
interest your investment has already earned. This
escalated savings is the Power of Compounding!
Just look at THIS TABLE to see for yourself.
To find out how fast your savings can add up, CLICK HERE
for a handy Saving/Investing Calculator. Fill out the form by
entering the dollar amount you can save every month, plus the
interest rate your bank or other investment pays.
You'll be amazed at how fast your money can grow, one
small step at a time!
The Money Tree
"The most powerful force in the universe is compound interest."
-- Albert Einstein
Want to find out why it pays to save (and save early)? A little
lesson called The Money Tree tells the big story!
| © 2011 North & Associates, P.C. |
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United States Bankruptcy Court Richmond Division
The Money Tree
