Pay Yourself First
Think you don't make enough money to save some of it? Think again!
If you earn $25,000 a year for 40 years, you will have earned $1 million! Earn $35,000 for 40 years, and you've earned $1.4 million. And if you earn $45,000 for 40 years, you'd have made $1.8 million!
Pay yourself first and you can get ahead in the savings game. Here's what can happen when you save just $100 a month for 40 years:
- At three percent interest, you would have about $93,000.
- At five percent interest, you'd have about $153,240.
- If you received a nine percent interest, you'd have about $472,000.
That's the power of paying yourself first! And remember, it's not what you earn - it's what you keep!
The hypothetical percentage rates and values are for illustrative purposes only and do not represent any actual investment. Rates of return are consistent nominal rates, unlike actual investments, which will fluctuate in value. Subject to applicable taxes. If fees and taxes were included, results would be lower.