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Home / Retirement savings / $100 a month

Retirement Savings of $100 a Month

This page looks at saving $100 a month for 35 years. Deposits begin at 30 and end at 65. The starting return is 6 percent.

You would make 420 deposits. By 65 the account reaches $142,471 and growth supplies 71 percent of it.

Age you start saving

years

Age you retire

years

Amount already saved

$

Saved each month

$

Return per year

%

Balance at retirement: $142,471
Total you put in: $42,000
Growth: $100,471
Years of saving: 35

Year by year

Year	Total put in	Balance
31	$1,200	$1,234
32	$2,400	$2,543
33	$3,600	$3,934
34	$4,800	$5,410
35	$6,000	$6,977
36	$7,200	$8,641
37	$8,400	$10,407
38	$9,600	$12,283
39	$10,800	$14,274
40	$12,000	$16,388
41	$13,200	$18,632
42	$14,400	$21,015
43	$15,600	$23,545
44	$16,800	$26,230
45	$18,000	$29,082
46	$19,200	$32,109
47	$20,400	$35,323
48	$21,600	$38,735
49	$22,800	$42,358
50	$24,000	$46,204
51	$25,200	$50,287
52	$26,400	$54,623
53	$27,600	$59,225
54	$28,800	$64,112
55	$30,000	$69,299
56	$31,200	$74,807
57	$32,400	$80,655
58	$33,600	$86,863
59	$34,800	$93,454
60	$36,000	$100,452
61	$37,200	$107,881
62	$38,400	$115,768
63	$39,600	$124,142
64	$40,800	$133,032
65	$42,000	$142,471

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How the balance is worked out

Turn the yearly return of 6 percent into a monthly rate of 0.5 percent by dividing by twelve. Apply that rate to the balance once a month for 420 months. Add $100 at the end of each month. Nothing else goes into the result.

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Worked example

A saver who begins at 30 and keeps depositing $100 a month until 65 ends with $142,471 at 6 percent.

Each dollar you deposit becomes about 3.39 dollars by 65. For $100 a month that turns $42,000 into $142,471.

Questions about this calculator

What if you saved double, $200 a month, from age 30 to 65 at 6 percent?

The balance at 65 would be about $284,942 instead of $142,471. That is 2 times as much.

What if returns averaged 4.5 percent instead of 6 percent for $100 a month from age 30 to 65?

The $100 a month would reach $101,774 by age 65. That is $40,697 less than the $142,471 shown at 6 percent.

What is $142,471 worth after 35 years of inflation?

At 2.5 percent a year prices rise by a factor of 2.37. The $142,471 would then buy about as much as $60,033 does at the start.

What if you retired 3 years earlier, at 62, when saving $100 a month from age 30 to 65 at 6 percent?

The balance would be $115,768 instead of $142,471. That is $26,703 less.

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This page is for education only and is not financial or tax advice.