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Before making a major financial decision you
should consult a qualified professional.
$365 is deposited at the end of each year for the # of
Return is compounded annually
Above amounts are pre-tax
If you start saving $1 per day when your child or grandchild is born, and
this is continued for 60 years, it is possible they might have enough to
retire just from the $1 per day. Note that this table is
not referring to RRSPs, but to deposits to a savings, brokerage or other
If you can save $3 per day, just multiply everything
above by 3, or if you save $5 per day, multiply the above
numbers by 5, etc.