If I start saving up €50 per month today, how much will I have when I retire?
Every recipe has ingredients that are the key to success and time and engagement are always at the top of the list. In financial matters like savings, broadly speaking, there aren’t any secret tricks or formulae, you only need time and perseverance. So you can see for yourself how saving €50 a month now will provide you with extra income that will turn into the best nest egg for your future. Get going straight away!
HOW MUCH SHOULD YOU SAVE A MONTH?
This is a hypothetical case of a pension scheme that will yield an estimated average return of 3.4% with deposits increasing by 2% every year. And the final savings are calculated setting the retirement age at 67.
So you see, there are no tricks to save up other than starting as soon as possible. This is the only secret to improving your retirement. Remember that your savings can work for you and that’s why perseverance is essential to achieve your goal. Our example shows how you can see your money grow by only depositing €50 a month. This will give you a more than satisfactory and interesting nest egg to tackle anything the future brings. In case you’re wondering, €50 is enough to make it profitable and complete your pension.