How To Save For Retirement - The Easy Way!
If you have problems saving for retirement this calculator offers an easy solution - periodic spending. Small, regular payments like your daily fancy coffee at Starbucks, the storage locker fee to hold your junk, and the magazines you don't read can all fund a secure retirement. Try it yourself and see!
For example, just input $5 daily for coffee at 10% interest for 40 years. You'll be shocked. Now try 12% - but make sure you are sitting down first. To complete the exercise simply examine all unnecessary periodic spending in your life, plug these expenses into the calculator using your expected remaining lifetime (assume age 100 or 90) as the number of years, add up the totals, and you will discover the simplest, most certain way to save for retirement.
The wake up call this calculator teaches is the true cost of spending is the compounded interest you lost over many years - not the actual money you spent. That is the key principle.
A few things to keep in mind: