Sunday, May 15, 2011

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.

Source: http://www.npr.org/2011/05/13/136274876/calculate-how-your-savings-can-grow?ft=1&f=1018

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