Financial Planning -> Save Money -> Save $1 per day
How Much Will You Have if You Save $1 Per Day?
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, 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 non-registered account.
If you're a teen and starting to work part time, you should start to Pay Yourself First, 10% of your gross wages.
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Tax tip: Pay yourself first!
Revised: December 22, 2020
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