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Time is Money
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If you begin saving for your
retirement early in your life, you'll have to put aside much less
money each month. If you wait until you're nearing retirement, the
amount you'll need to save each month could be near impossible. The
illustration at right shows you how time really is money.
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The
hypothetical illustrations are intended to demonstrate compounding at
various rates and are not intended to illustrate the performance of
any actual program. The hypothetical illustrations show a constant 10%
rate of return, whereas, actual investment performance will fluctuate.
Account values were obtained by using a nominal rate of return
compounded monthly. Contributions are made at the beginning of the
period.
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