Sermon Central
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Alice Started Saving $1,000 A Year For Retirement ...
Contributed by Aaron Mishoe on Apr 2, 2009 (message contributor)
Alice started saving $1,000 a year for retirement when she was 21 years old. She saved this much for 8 years and then stopped at age 29 but let the amount build interest until she was 65. She paid a total of $8,000 into her retirement plan.
Ben waited until age 29 to start saving $1,000 a year for retirement and saved that much per year until he retired at age 65. He paid a total of $37,000 into his retirement plan.
Who do you think ended up with the most? The one that paid in $8,000 or the one that paid in $37,000?
Alice ended up with earning $64,693 more than Ben in the end because her money grew through compounded interest 8 years longer.
Starting early makes a huge difference!
- Crown Financial Ministries
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Citation: N.T. Wright in For All God’s Worth. Christianity Today, Vol. 41, no. 12.] We live in a world full of people struggling to be, or at least to appear, strong in order not to be weak; and we ...read more
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A Jewish Man Was Confronting A Christian Man: ...
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