Starting saving at 35 years vs 25 years
From this example,
the difference between saving at
35 vs 25 is over £345,000 due to compounding
£347,235
£715,662
Age 35
Age 25
Age 65
Age 65
£0
£100,000
£200,000
£300,000
£400,000
£500,000
£600,000
£700,000
Source: Smith & Williamson 2020. The example assumes annual savings of £5,000 with a 7.5% annual investment return, based on a prudent view of the S&W Steady Growth Index (Medium Risk) return over the last 10 years.
This is for illustrative purposes only; past and predicted performance is not a guide to future performance.
Here is a simple insight into the difference 10 years can make when saving
From this example,
the difference between saving at
35 vs 25 is over £345,000 due to compounding
£800,000
£800,000
£800,000