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3.  Many people make the mistake of waiting to start saving for retirementpeople  With this presentation: ◦ I will show that it is better to start saving early rather than later in order to have a comfortable retirement ◦ The impact of waiting to save for retirement ◦ How to decide how much you should save based on certain elements (starting salary, age you plan to retire, etc) ◦ Provide other sources for further assistance ◦ Visually show why you need to start saving NOW

4. See another visual

5.  The previous chart was determined using three scenarios: ◦ If you start saving NOW ◦ If you wait 15 years to start saving ◦ If you wait 30 years to start saving  Using excel, the annual saving amount for each scenario was calculated by comparing the function value of the salary and the annuity  Other factors were taken into consideration including starting salary, saving years, career years, rate of inflation, FV of salary, annual savings, rate of interest, total saved, years you plan to live after retirement, and annuity  See another way to calculate your retirement savingsanother way

6.  In the example, if the person waited after 30 years to start saving, he/she would have to save $60,000 per year (more than their starting salary!) ◦ He/she would have to save $23,500 per year if he/she waited after 15 years to start saving ◦ He/she would only have to save $12,200 per year if he/she started saving IMMEDIATELY (age 23)  It is important to take external factors into consideration (i.e. anticipated rate of inflation, how long you plan to live after retirement)external factors

7.  The sooner you start saving, the less you need to save each year  You will retire with more money  Rather hurt now than later (later when you no longer work!)  See the link below for a simple way to calculate how much you should save  Save Now vs. Save Later Save Now vs. Save Later

8.  I can not emphasize this enough, DON’T WAIT…start saving immediately after you start your career  The higher your salary, the more you need to save  Establish a reasonable amount you will be able to save each year and STICK TO IT  Financially calculate your minimum retirement annuity (see example )see example  Steps To Help Save Money Now Steps To Help Save Money Now

9.  Comfortable retirement  More money saved after retirement for you and your family (children, grandchildren, etc.)  Less stress knowing you can always provide for yourself THIS COULD BE YOU! OR WHAT WILL YOU DECIDE?

10.  http://www.calcxml.com/do/sav05 http://www.calcxml.com/do/sav05  http://www.nature.com/nature/journal/v433/n7023/ full/nj7023-336a.html http://www.nature.com/nature/journal/v433/n7023/ full/nj7023-336a.html  http://www.selfgrowth.com/articles/steps-to-help- save-money-now-not-later http://www.selfgrowth.com/articles/steps-to-help- save-money-now-not-later  http://www.deez.info/sengelha/wp- content/uploads/2006/07/retirement-savings- targets.gif http://www.deez.info/sengelha/wp- content/uploads/2006/07/retirement-savings- targets.gif  http://coaches.aol.com/money/feature/_a/how-to- calculate-your-savings- for/20060619151209990001 http://coaches.aol.com/money/feature/_a/how-to- calculate-your-savings- for/20060619151209990001  http://finance.mapsofworld.com/savings/factors/ http://finance.mapsofworld.com/savings/factors/  http://ezinearticles.com/?401k-Withdrawal-Rules--- Reaping-the-Rewards-of-Saving&id=2672751 http://ezinearticles.com/?401k-Withdrawal-Rules--- Reaping-the-Rewards-of-Saving&id=2672751 Presentation brought to you by Deandra Turchi.