2006-10-31 07:46:15 · 9 answers · asked by eric_azn6 1 in Business & Finance ➔ Credit
This of course depends on how much you save, and what rate of return you get on your savings, plus how much you will need to retire. You can use retirement calculators available on the web to help you with the compounding calculation. Compounding interest will enable what you save now to be worth much more in the future. Also keep in mind that you will be fighting against inflation as you are saving, so you need to get a Rate of Return of at least the inflation rate.
2006-10-31 07:50:48 · answer #1 · answered by Wanderer 4 · 0⤊ 0⤋
No it not to late it a great time to start saving with the right investments you can be a millionaire at age 55.
2006-10-31 08:00:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Its never to late to start saving. At 21 if you started saving in a good 401k you could retire with well over a million. Probably closer to two million. Good luck
2006-10-31 07:48:46 · answer #3 · answered by Anonymous · 0⤊ 0⤋
When did you think you were supposed to start, 13?
21 is plenty of time to start and end with a reasonable retirement fund. I know people in their 30/40s who are just starting, and they have to dump 10X as much into their account as I do at 23, and they'll still have less money than I do.
2006-10-31 08:06:49 · answer #4 · answered by Anonymous · 0⤊ 0⤋
It's never too late to start saving
2006-10-31 07:48:45 · answer #5 · answered by carbonkid22 2 · 1⤊ 0⤋
It's never too late, are you kidding?
Go to www.trowprice.com & use the savings calculator. They can give you an idea of how much to save for retirement.
2006-10-31 07:49:05 · answer #6 · answered by lynn 5 · 0⤊ 0⤋
hm its never too late to start saving but whos to say this world will even exist by the time your 55. Or whos to say you will even exist.
2006-10-31 07:59:37 · answer #7 · answered by babyapple2004 2 · 0⤊ 1⤋
It's never too late to start saving. Congrats on thinking ahead. You'll be glad that you did.
2006-10-31 13:10:51 · answer #8 · answered by Mariposa 7 · 0⤊ 0⤋
if start today, you have more money start next week
2006-10-31 07:48:48 · answer #9 · answered by justmejimw 7 · 0⤊ 0⤋