Question
Suppose you are a 22 year old college graduate who just started working and, while you do not have any money, you had a plan
Suppose you are a 22 year old college graduate who just started working and, while you do not have any money, you had a plan to start saving. Assume you successfully saved just $1,095 a year ($3 a day) and invested in a well diversified investment vehicle realizing 7% interest compounded once annually every year from now until you retire. How much would you have 43 years from now when you retire at 65 according to MoneyChimp.com? At 22 years old, how much will you have when you retire if you started saving $1,095 a year or $3 a day until you retire at 65 according to MoneyChimp.com? What if you waited until you were 30 to start saving according to MoneyChimp.com? How much of your retirement fund is lost as a result of foregone savings according to MoneyChimp.com? Foregone interest according to MoneyChimp.com?
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