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Financial Planning -> Save Money -> Save $1 per day

How Much Will You Have if You Save $1 Per Day?

# of
Future Value at Various
Rates of Return
5% 7.5% 10%
5 $1,825 $2,017 $2,120 $2,228
10 3,650 4,591 5,164 5,817
20 7,300 12,069 15,806 20,905
30 10,950 24,250 37,741 60,040
40 14,600 44,092 82,949 161,546
50 18,250 76,412 176,123 424,827
60 21,900 129,058 368,160 1,107,708
bullet $365 is deposited at the end of each year for the # of years above
bulletReturn is compounded annually
bulletAbove amounts are pre-tax

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.

If you start saving $1 per day when your child or grandchild is born, and this is continued for 60 years, they'll have a significant amount to supplement their retirement just from the $1 per day.  Note that this table is not referring to RRSPs, but to deposits to a savings, brokerage or other non-registered account.

If you're a teen and starting to work part time, you should start to Pay Yourself First, using 10% of your gross wages. Resources

Annual Income Calculator - see what annual income will be provided by your investments.

Historical Investment Returns on Stocks, Bonds, and T-Bills

How Much Must be Invested Today to Have $1 Million in the Future?

Ideas for saving money and building wealth!

Tax Tip:  Pay yourself first!

Revised: October 26, 2023



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