Start saving ASAP
Jeff Affronti
Fixed Annuity & Life Wholesaler | SPIAquote.com | AnnuityExperts.com FSD Insurance Services | Traditional insurance products for the risk averse. New business & servicing. Experienced, reliable, available & responsive!
Start saving young!
Which option will have earned more interest at age 60?
#1—$100.00 monthly from age 18—30 (12 years of premiums)
#2—$100.00 monthly from age 30—60 (30 years of premiums)
This examples assumes a level 3.20% compounding interest rate. (PDF)
I cannot stress enough how important it is to start saving ASAP.
$100 per month is a great place for a young person to start a good habit. Using a no fee guaranteed fixed annuity will allow 100% of the new savers money to work and grow. Finding a product with no downside is great for a new savers as they see regular and consistent growth. A product that can loose value could have a negative effect on the new saver as they may see less value in putting money away.
Illustrations:
Jeff Affronti
FSD Financial Services Division Fixed Annuities and Life
800-373-9697
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