Financial Strategies and Resources for Adoptive Families

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Worksheets/Tips

The Time Value of Money

Compare the savings/investing for two people who started saving at different ages.

	Person No. 1	Person No. 2
Age when started investing/saving	22	31
Number of years of contributions	9 (til age 31)	34 (til age 65)
Amount contributed	$1,000 per year	$1,000 per year
Interest rate	9 percent	9 percent
Value at age 65	$243,863	$196,982
Source: www.managingmymoney.com/managingworksheet9.html

Planning for the Future