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Chart of the Day: 1% Increase Annually to 10%

Crews Bank & Trust Wealth Management Services Mar 22, 2023
10% contribution in purple, increasing contribution in green, 3% contribution in blue

Contents

Today’s Chart supports the idea of, “Save early; save often.”

Always start at the amount to get your full employer 401K match, say 3%, and then increase the amount every year after your raise by 1%, until you get to 10%. This strategy, shown as green, does not put you too far behind someone who started off at 10%, shown as purple. Just don’t stay on the blue line.
Chart of the Day

About the Author

Crews Bank & Trust Wealth Management Services
Crews Bank & Trust Wealth Management Services

Experienced professionals from our wealth management services team can help you achieve a bright financial future through investment strategies tailored to you. We’ll show you all of the options available and help you choose the ones best suited to you. We’ll provide high-quality, personal service as we work toward your goals together. Our Portfolio Managers do not receive commissions on trades; our recommendations of investments are based solely on your best interests.

Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.

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