Tuesday, August 02, 2011

A one percent increase can mean a lot of cash

The New York Times has posted a cool interactive calculator that shows you how much you'll have saved in your time horizon at your chosen savings rate, if you save 1% more, and if you save an additional 1% each year (up to 16 percent). Adding 1% each year can can more than quadruple your savings if you start early enough. But even at my late date, it can still mean $20K or more over 10 years.

Found at lifehacker.

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