Calculate How Your Savings Can Grow
A steady savings plan can produce dramatic results. If you put aside $100 a month starting at age 20 and keep at it, you'll accumulate more than $114,000 by the time you're 65. That assumes a 3 percent interest rate. If you sock away $250 a month and rates go up to 5 percent, you'll end up with more than $500,000. Plug your own numbers into the calculator below.
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This calculator shows how much money a person could save -- and earn in interest -- by age 65, depending on when they starting putting money aside.
Notes
These calculations are for example purposes only. They do not take into account other factors, such as inflation, taxes and fluctuating interest rates.More From This Series
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