We assume an age at retirement of 67. Assuming that you start with zero dollars, at your age**, today, and you begin setting aside $500 per month, each month, from the present until age 67. How much money will you have set aside?

Now, assume that your savings are invested at a annual return rate of 7%. How much money will you have at age 67? Would it make a difference if you invested an additional $100 each month, for a total of $600?

What can we learn from your results?

** Starting age is 20 **