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Bell Ringer # 17 - Why Save Early

Last updated over 2 years ago

5 questions

Instructions

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Question 1

1.

If you start saving at age 25, approximately how much money do you have at age 40?

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Question 2

2.

At age 65, how much MORE money do you have if you began saving at age 25 rather than at age 35?

Question 3

3.

If you start saving at age 25, at approximately what age does your money begin to grow rapidly? When does this happen if you start at age 35?

Question 4

4.

Develop an argument for why the graph does not show data beyond the age of 65.

Question 5

5.

If you saved $1,000/yr from the ages of 25-65 (40 years), that means you should have $40,000 by the age of 65. Explain why, then, you instead have $213,610 by the age of 65.