You say you don't have much to save? Even a little adds up!
Suppose you spend $1 a day on pop...If instead you added that amount to a retirement account, earning a 10% return:
In 20 years, you'd have almost $21,000. In 35 years, you'd have almost $99,000.
You have a new baby and a toddler, and you'd like to save for their college education, but you can only save $50/month. Is it worth it?
In an investment earning 10%, you'll have $30,000 after 18 years. That sum will make a helpful dent in the college costs of two children.
The following publications offer more information on saving:
Related Links
- Investing For Your Future - www.investing.rutgers.edu
An 11-part home study course featuring in-depth, non-commercial information about investment types and key decision-making principles. Other topics include: finding money to invest; investing with small dollar amounts; sources of investment information; selecting professional advisors; avoiding investment fraud. Developed by the national Cooperative Extension System. Appropriate for beginning and intermediate-level investors
- "Choose to Save" campaign - www.choosetosave.org
Check out their savings tools, financial planning calculators and information pages. Sponsors: American Savings Education Council, Employee Benefits Research Institute
- Think College Early - www.ed.gov/students/prep/college/thinkcollege/early/edlite-tcehome.html
The U.S. Dept of Education's website to help parents and students get started in saving and preparing for college
- College Savings Iowa - www.collegesavingsiowa.com
Learn about Iowa's state-sponsored college savings plan, offering tax-advantages, low expenses and flexibility. For parents and others who wish invest in a child's education
- Financial Facts Toolkit - www.sec.gov/investor/pubs/toolkit.htm
Links to more than 20 credible sources of information to help you make smart saving and investing decisions. Prepared by the U.S. Securities and Exchange Commission