The earlier in life you can start saving, the more time you’ll have to take advantage of the power of compounding interest.  

The following chart illustrates monetary accumulation for two types of savers who want to retire by age 65.  

RED started saving $1,200.00 per year into a tax-deferred account (no taxes paid on interest) that paid 12% per year (compounded yearly) at the age of 18 for only 10 years.  

BLUE started saving $1,200.00 per year into a tax-deferred account that paid 12% per year (compounded yearly) but started at the age of 28 for 37 years (until he reached 65). 

RED contributed a total of $12,000. BLUE contributed a total of $45,600

RED accumulated $830,314.48 more than BLUE! 

The earlier you can start saving, the more time you’ll have to take advantage of the power of compounding interest. Even though BLUE put away almost four times more money than RED, RED had the advantage of time. 

Go to www.billiondollarpaydown.com to set your savings goal for the year and start tracking your savings immediately.  

Join the free Billion Dollar Challenge today where we are paying down 1 billion dollars in collective consumer debt.  You can also invite your family and friends to join you to do this together as a group. Ask us how.  Email info@mydfree.org or call 844-693-3733.