Savings Account Diet

by Wendy
(Canada)

Financial Freedom

I would have to say that my worst money mistake was keeping my savings account on a diet during the years when it would have made the most difference to my future (compound interest is amazing).

Had I invested just $50 a week from the time I started working, I could be laying on a beach right now, breathing in the fresh air, embracing the serenity, taking on the odd job here and there for the sheer pleasure of it.

I love work, but the freedom of not having to follow the strict time schedule that goes along with a full-time job would be an incredible feeling I'm sure.

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Savings Account Diet

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app pra po
by: Anonymous

empty

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Regular savings really add up!
by: Debbie

Putting money regularly into savings really does add up.

I did a few calculations and here are the results:

If you had put $50 into a savings account with an APR of just 4%, every week, starting at age 25, you would have $237,224 at age 65!

Even if you could only put $25 a week in, you would still come out with $118,612 when you hit your golden years.

Definitely a good thing as Martha would say! ;)

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That's a Regret for Me Too!
by: Anonymous

I agree. Of course, if I'd worked consistently when I was young, I'd be very well off now. But I traveled, lounged about, quit jobs when I didn't enjoy them...

So now I work.

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