Bell Ringer # 17 - Why Save Early
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Last updated about 2 years ago
5 questions
1
If you start saving at age 25, approximately how much money do you have at age 40?
If you start saving at age 25, approximately how much money do you have at age 40?
1
At age 65, how much MORE money do you have if you began saving at age 25 rather than at age 35?
At age 65, how much MORE money do you have if you began saving at age 25 rather than at age 35?
1
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?
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?
1
Develop an argument for why the graph does not show data beyond the age of 65.
Develop an argument for why the graph does not show data beyond the age of 65.
1
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.
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.