Monday, August 10, 2009

Money in the bank

9.5 million retirees are considering returning to work at least part-time, and 32% of our currently employed workers expect to delay retirement.



Speaking about work... the majority (85%) of employers say they plan to maintain their current staff levels through the 3rd quarter (5% expect to add staff and 8% make reductions).



Pretty interesting:

If you save just $400/month from age 25 to 34 and it grows 7% you’ll have $602k at age 65.

If you delay your start to age 35 but save for 30 years (instead of the above 10), you’ll only have $528k, even though you’ve saved $100k more.

So... the benefits of compounding are enormous.

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