Start Saving From Now
From this post, I would like to highlight two things 1) how powerful is the compounding interest and 2) Start saving and invest earlier. Study the table below and examine the different between it.
The table below represent 3 persons start saving and investing at different age and different amount of money.
Assuming the 10% interest return per year
| Alvin | Kelvin | Melvin | |
| 18 | $1000 $1100 | ||
| 19 | $2100 $2310 | ||
| 20 | $3310 $3641 | ||
| 21 | $4641 $5105 | ||
| 22 | $6105 $6716 | ||
| 23 | $7387 | $1000 $1100 | |
| 24 | $8126 | $2100 $2310 | |
| 25 | $8938 | $3310 $3641 | |
| 26 | $9832 | $4641 $5105 | |
| 27 | $10816 | $6105 $6716 | |
| 28 | $11897 | $7716 $8487 | |
| 29 | $13087 | $9487 $10435 | |
| 30 | $14396 | $11435 $12579 | |
| 31 | $15835 | $13837 | $1000 $1100 |
| 32 | $17419 | $15220 | $2100 $2310 |
| 33 | $19161 | $16743 | $3310 $3641 |
| 34 | $21077 | $18417 | $4641 $5105 |
| 35 | $23184 | $20259 | $6105 $6716 |
| 36 | $25503 | $22284 | $7716 $8487 |
| 37 | $28053 | $24513 | $9487 $10435 |
| 38 | $30859 | $26964 | $11435 $12579 |
| 39 | $33945 | $29661 | $13579 $14936 |
| 40 | $37339 | $32627 | $15936 $17530 |
| 41 | $41073 | $35890 | $18530 $20383 |
| 42 | $45180 | $39479 | $21383 $23522 |
| 43 | $49698 | $43427 | $25874 |
| 44 | $54668 | $47769 | $28461 |
| 45 | $60135 | $52546 | $31307 |
| 46 | $66148 | $57801 | $34438 |
| 47 | $72763 | $63581 | $37882 |
| 48 | $80039 | $69939 | $41670 |
| 49 | $88043 | $76933 | $45837 |
| 50 | $96848 | $84627 | $50421 |
| 51 | $10653 | $93089 | $55463 |
| 52 | $117186 | $102398 | $61010 |
| 53 | $128904 | $112638 | $67111 |
| 54 | $141795 | $123902 | $73822 |
| 55 | $155974 | $136292 | $81204 |
| $5000 | $8000 | $12000 |
Amazing figure! As you can see Alvin finish richest in the end with the least amount invested. So, what do you think? Still intended to buy unnecessary? Please stop it and start save and invest now.
I am starting now at Kelvin age and hope to have 10% interest too. XD
Well Done for starting your saving plan at young age
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Everyone needs to do so to have a better retirement when time come.
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