Savings Growth Chart - Oklahoma Money Matters
Savings Growth Chart
The more money you save and the earlier you begin saving, the more your money will grow. The chart below shows how large your account can grow by age 65, depending on the age you begin saving and the amount saved weekly. For example, if you start saving $10 each week at age 20, you'll have nearly a quarter million dollars by age 65.
| Age | $10 | $25 | $50 | $100 |
|---|---|---|---|---|
| 20 | $228,563 | $571,408 | $1,142,817 | $2,285,634 |
| 25 | $151,277 | $378,193 | $756,385 | $1,512,770 |
| 30 | $99,402 | $248,504 | $497,008 | $994,016 |
| 35 | $64,582 | $161,456 | $322,911 | $645,822 |
| 40 | $41,211 | $103,028 | $206,056 | $412,111 |
| 45 | $25,524 | $63,811 | $127,621 | $255,242 |
| 50 | $14,995 | $37,487 | $74,975 | $149,950 |
| 55 | $7,928 | $19,819 | $39,638 | $79,277 |
Assumes an 8% average annual return and weekly contributions to age 65.
Cost of Delay Chart
Waiting a year to begin saving means your retirement account will have one less year to grow before you're 65. Here's how much less you'll have if you choose to wait. Look how much you'll lose if you don't start saving at age 20.
| Age | $10 | $25 | $50 | $100 |
|---|---|---|---|---|
| 20 | $18,015 | $45,035 | $90,075 | $180,149 |
| 25 | $12,092 | $30,230 | $60,459 | $120,918 |
| 30 | $8,116 | $20,290 | $40,581 | $81,161 |
| 35 | $5,448 | $13,619 | $27,238 | $54,476 |
| 40 | $3,657 | $9,141 | $18,283 | $36,565 |
| 45 | $2,454 | $6,136 | $12,271 | $24,543 |
| 50 | $1,647 | $4,118 | $8,237 | $16,473 |
| 55 | $1,106 | $2,764 | $5,529 | $11,057 |
This information presented in cooperation with Oklahoma Money Matters, the financial education outreach initiative of the Oklahoma Guaranteed Student Loan Program. For more information about OKMM, visit www.oklahomamoneymatters.org or call 1-800-970-OKMM.