Money Counts: Young Adults And Financial Literacy
Calculate How Your Savings Can Grow
A steady savings plan can produce dramatic results. If you put aside $100 a month at age 20 and keep at it, you'll accumulate more than $114,000 by the time you're 65. That assumes a 3 percent interest rate. If you sock away $250 a month and rates go up to 5 percent, you'll end up with more than $500,000. Plug in your own numbers in the calculator below. Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.