Dreams Can Become Reality

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Dreams Can Become Reality
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Time Makes a Difference

• When youre saving for the future,
• starting NOW makes a big difference.

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Time Value of MoneyThe miracle of compounding

• Let your money earn money by reinvesting it.
• For example, earn interest on your interest in a
  savings account.

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Let Your Money Work for You

• Invest 100 at 5 and let the money GROW.

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What if you added 100 to your savings each year?

• If you reinvested your money and earned 5 each
  year, then
• in 10 years you would have over 1,400
• In 30 years you would have over 7,000

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Start Saving

• Its the start that stops people!

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Obstacles to Saving

• Values
• Needs versus wants
• Perception of time
• Lack of financial understanding
• No goals

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Saving Tips

• Pay your savings account.
• Work together.
• Use payroll deductions.
• Save bonus money.
• Pay installments to yourself.
• Have a nothing week.
• Collect loose change.

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The Impact of Saving 20 per Week
5 10 10 Years 13,700 18,200 20
Years 36,100 65,000 30 Years 72,600 188,2
00 40 Years 131,900 506,300 Annual rate of
return
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Dollars from Dimes

• Turn your dimes into dollars and make your dreams
  reality.

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Turn Your Dreams Into Goals

• Goals are
• specific,
• achievable,
• written,
• have dates to begin and end.

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Example of a Financial Goals List
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www.RetireWell.uiuc.edu
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Easy-to-Use Calculators
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Step-by-Step Guide to Set Your Goals
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Thoughtful, Interactive Worksheets
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In-depth Information
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Graphs that Picture Your Financial Situation
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Plan Well, Retire Well Your how-to guide
www.RetireWell.uiuc.edu

• Interactive
• Unbiased information
• Simple to use
• Information 24/7