Regardless how old we are, we all should start saving for retirement. Saving for retirement will take a long time to accumulate sufficient fund to support us with a comfortable life in retirement years. “How much retirement savings I will have when I retire” is a common question people usually have. The oversimplified answers to this questions is that it depends on how much you are willing and disciplined to save now and the interest rate you earn on your savings.
Use the calculator below to calculate how much retirement savings you will have if you are disciplined to save a fixed amount monthly in your retirement account.
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The interest rate you earn in this retirement account depends on the investment assets you choose to invest in. Depending on how old you are, you can have different investment strategies. The younger you are, the more risks you can take to gain higher return rate. Since you invest for the long term, you are able to afford short term risks due to market volatility.
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Learn more about the tax benefits of life insurance, compared to other retirement and investment accounts
Explore our other calculators:
- Calculator: How Much Retirement Income Will I Have?
- Calculator: How Much Total Retirement Savings Do I Need?
- Calculator: How Much Do I Need to Save Monthly for Retirement?
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