Will  Your Nest Egg Be Enough?

 

We all dream of the day when we can do all the thing there wasn't time for when we were working. But did you ever ask yourself the question How will I live after the last paycheck comes in?  Social Security will assist but is should only be considered a supplement to your income. 

Retirement Savings Programs - Regardless of your age, now is the best time to plan for your future.  Put money in your employers retirement savings program.   It is better to start late than never at all, even over a short period you have he benefit of compounding and dollar cost averaging through payroll deduction.

FIND YOUR RETIREMENT FUND AT AGE 65

(with a monthly 401(k) salary deferral of $100)

How much can you accumulate for retirement in your 401k deferral account Use the chart below to see what a deferral of $100 each month from now until age 65 would add up to, if your deferral account earns 6%, 8% or 10% per year, deferral account earns 6%, 8% or 10% per year, tax-deferred, to age 65. Find your current age and see what you would have. Of course, actual results will vary based on the actual growth rate of your deferral account, which cannot be guaranteed.

 

 

 

Your account value at age 65

 

Current Age

Years to Age 65

at 6%
per year

at 8%
per year

at 10%
per year

 

 

 

 

 

25

40

$199,149

$349,101

$632,408

26

39

$186,418

$321,197

$571,326

27

38

$174,426

$295,431

$516,034

28

37

$163,131

$271,640

$465,983

29

36

$152,492

$249,672

$420,676

30

35

$142,471

$229,388

$379,664

31

34

$133,032

$210,659

$342,539

32

33

$124,142

$193,365

$308,933

33

32

$115,768

$177,396

$278,513

34

31

$107,881

$162,651

$250,976

35

30

$100,452

$149,036

$226,049

36

29

$93,454

$136,464

$203,485

37

28

$88,863

$124,856

$183,059

38

27

$80,655

$114,138

$164,570

39

26

$74,807

$104,241

$147,834

40

25

$69,299

$95,103

$132,683

41

24

$64,112

$86,665

$118,969

42

23

$59,225

$78,873

$106,555

43

22

$54,623

$71,679

$95,317

44

21

$50,287

$65,036

$85,145

45

20

$46,204

$58,902

$75,937

46

19

$42,358

$53,238

$67,602

47

18

$38,735

$48,009

$60,056

48

17

$35,323

$43,180

$53,226

49

16

$32,109

$38,721

$47,044

50

15

$29,082

$34,604

$41,447

51

14

$26,230

$30,802

$36,381

52

13

$23,545

$27,292

$31,795

53

12

$21,015

$24,051

$27,644

54

11

$18,632

$21,058

$23,886

55

10

$16,388

$18,295

$20,484