Find Out How Many Retirement Days Your Contribution Can Buy Using This Tool
There is still a long time before retirement, and it may seem that your contributions do not matter much. However, with a little math (or this tool), you can see exactly how much one more day of freedom is worth.
Personal finance site Keep Thrifty has created a tool (which you can find at the source link below) to estimate how many days of freedom you can buy by increasing your retirement fund. This is a rough estimate, but you might be surprised at how cheap a day is. Simply enter your current account balance, the amount of additional contributions you plan to contribute, and the estimated growth rate. The calculator will show you the approximate number of days during which this additional contribution will be paid. So how much is one more day of freedom worth to you?