Starting early can make a big difference
While it may be difficult to put away a large sum of money right now, making regular contributions over time can increase the chances of reaching your goals.
The table below shows the difference investing over different time periods can make in the growth of your savings. For example, if you contribute $100 a month over 30 years you could amass $150,030 — compared with only $18,417 over 10 years.
|Monthly contribution||Annual contribution||What you could have in:|
|5 years||10 years||20 years||30 years|
Assumes an 8% annual return, compounded monthly.
This chart is for illustrative purposes only. It does not reflect the result of any particular investment, which will fluctuate with market conditions. Regular investing does not ensure a profit or protect against loss in a declining market. Your actual results may vary.