Saving For Your Future III

Savings and investments are necessary for you to take full responsibility for your future. You provide for your future by accumulating enough wealth to take care of your needs independent of any other person or entity. You accumulate wealth by investing. You invest by first saving dollars for that purpose.

You save dollars by finding money to set aside in a savings vehicle. You find money to set aside by living below your means. You live below your means by spending less than you earn. It is very important to begin setting aside money NOW. It does not matter whether you are old or young, now is the time to begin. Tomorrow never seems to come.

Of course, by starting at an early age, time is on your side. The following chart shows the annual return on an investment in five-year increments. Of course, one could start at age 50 and have $132,683 by the time he reaches the age of 75. Later, I will chart for you the benefits of starting very young and what the effects of a life of investing will do for you.

If you were to begin saving now, an amount of $100 per month, the following chart details your possible investment return showing a variety of percentages and years.


Tell me “your” story of saving for your future! Your comments appreciated!

Content © Rich Brott, 2011

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Reader Comments

I like the “Rule of 78” which helps me get close to how much an investment is worth in the future.

I, on the other hand, am saddened every time I do the compound interest calculations. I start saying, “I know I started investing heavily at 22, but MAN if only I had started investing when I was 6 years old!”