Where Will Your Retirement Savings Be 10 Years from Now?
As Catherine Brock reports in this piece, Americans aren’t even sure how much money they’ll need to retire never mind predict the balance in their retirement savings decade from now. Social Security’s on-line statement can people give a rough estimate of future benefits, but that program provides such a small part of the funds one will need for a viable retirement. Your future retirement balance is a function of your balance today, future contributions from you and your employer, your rate of return, and the timeline. Knowing these values, you can plug them into a compound interest calculator for a quick gauge of where your balance will be at some future date. To learn more, read the full article. rest calculator for a quick gauge of where your balance will be at some future date. To learn more, read the full article.