When Should I Start Saving? Calculator

Published on Feb 20, 2015 02:38 am

Slow and steady wins the race, especially when it comes to saving. Even an extra $10-20 saved each month during your younger years can grow exponentially by the time you reach retirement, thanks to compound interest. And all that saving done early will protect you from a fast, less-effective saving spree at the end. To learn more about the importance of saving early, this calculator can show you how your money accrues and help you better understand just what you’ll need to save if you wait.

When Should I Start Saving? Calculator Definitions

  • Age when funds are needed – This is the age at which you hope to retire.
  • Marginal tax bracket – The tax bracket you fall into based on your annual gross income and IRS tax rate schedules.

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This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.
Published by permission from ConsumerInfo.com, Inc., an Experian company. © 2015 ConsumerInfo.com, Inc. All rights reserved.

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