Mr. Save Early saves $3,600 per year for 7 years in a 8% tax deferred account.
Mr. Wait Longer starts saving $3,600 per year for 17 years in an 8% tax deferred account, 7 years later than Mr. Start Early.
* For illustration purposes only
Mr Start Early accumulated $128,361 by the age of 48 yrs old and contributed only $25,200 while Mr. Wait Longer’s contribution is $61,200 for almost the same amount of result.
- Saving Your Future Book