Molly Goose's Contributions
Year | Salary at Beginning of Year | Annual Contribution | Pay Period Contribution | Balance at End of Year |
---|---|---|---|---|
1 | $35,000 | $350 | 1% | $360 |
2 | $35,525 | $355 | 1% | $746 |
3 | $36,058 | $361 | 1% | $1,161 |
4 | $36,599 | $366 | 1% | $1,607 |
5 | $37,148 | $371 | 1% | $2,085 |
Disclaimer: For illustrative purposes only. Assumes a starting salary of $35,000, semi-monthly contributions, 1.5% annual salary increases, and 6% rate of return while employed. Numbers calculated using the Grow Your Retirement Savings Calculator.