Save Early, Aim for Your Goal

Save Early, Aim for Your Goal

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Contributing to your employer’s retirement plan as soon as you’re eligible is crucial to meeting your retirement goals. The earlier you start saving, the more time compounding interest has to work on your behalf. Putting off contributions today means increased contributions to reach the same goals tomorrow.

For example:

Shane, Maria and Nadia are each beginning their retirement savings journey today and each wish to accumulate $300,000. How much do they need to contribute to meet their goal?

Shane is 25 years old, he needs to save: $93 a month for 480 months
Maria is 35 years old, she needs to save: $210 a month for 360 months
Nadia is 45 years old, she needs to save: $520 a month for 240 months
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