Time can be your biggest ally. An early start on saving for retirement may make a dramatic difference in helping you reach your goals. In the chart below, Bryleigh invested twice as much for twice as long, but because she started later, she has $117,500 less than Elliana at age 65.
Hypothetical Illustration
| Elliana | Bryleigh | |
|---|---|---|
| Started Investing At: | age 25 | age 35 |
| Yearly Contribution | $5,000 | $5,000 |
| Number of Years | 10 years | 20 years |
| Total Contributions | $50,000 | $100,000 |
| Rate of Return | 6% | 6% |
| Value of investment at age 65 | $425,304 | $206,661 |
The illustration above is intended to show the principle of compounding. This hypothetical chart is for illustrative purposes only and does not represent any specific type of investment. It does not include the impact of expenses or fees, which would have reduced the results of the illustration.