Save Early, Reach Your Goal - Spay and Associates

Posted on May 17, 2018 by retirementtimesnewsletter

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.

Maria is 35 years old.

Nadia is 45 years old.

Shane needs to save $93/month*.

Maria needs to save $210/month*.

Nadia needs to save $520/month*.

*Assumes an average rate of return of 8%. These examples are hypothetical in nature, do not represent any specific investment, and do not account for any fees or expenses associated with an actual investment.

ACR#285258 05/18

Spay & Associates | 5465 Utica Ridge Road | Davenport, Iowa 52807 | Phone: 563-326-0960 | Fax: 563-823-0535

Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Spay & Associates are not affiliated.

Cambridge’s Form CRS (Customer Relationship Summary)

This communication is strictly intended for individuals residing in the states of CA, FL, IA, IL, IN, ME, MO, NM, OH, TX, WI. No offers may be made or accepted from any resident outside the specific states referenced.

PLEASE NOTE: The information being provided is strictly as a courtesy. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to. We make no representation as to the completeness or accuracy of information provided at these websites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this website.

Spay and Associates