Compound Growth Slider Calculator

I'll be the first to tell you that I'm just a Realtor in the Greater 30A area. I am not a financial planner or a CPA. However, I love playing with spreadsheets for compounded growth. Recently, I took it to the next level by creating with a slider for you to input your own information to see the results of any changes in the parameters. (so much easier to use than spreadsheets!)

This is one I created for kids, and parents of newborns to teens to see what a small monthly investment in the S&P 500 might look like based on historical returns as you go through life. If you are able to leave it undisturbed and continue to invest routinely, it can be a very large amount when it's time to retire, with most of the growth coming through near retirement age. If you want to pour some gasoline on the fire as Kevin O'Leary says, start by adding an initial lump sum. Get Grandma and Grandpa, or your friends and family to contribute at birth, instead of buying junk from Target. That is the best way to affect your kid's life.

Wait, there is more! If your kid has a job, even as simple as mowing the grass, being a model for your business advertising, etc, your child may be able to contribute to a Roth IRA where the returns would be tax free! This is something definitely worth asking your CPA or Wealth Manager about.  Try the link for a quick look and share it with your kids to start teaching them about saving now, to have more freedom later in life. We waste so much money on needless toys or things that kids never use more than a day. What would their lives look like later in time if we invested that money for them instead? 

Happy Savings!

Try it!  Compound Growth Slider Calculator