How to save 5000 in 3 years with different angle
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Your expected annual return is 7%. If you had simply invested that money instead at an average annual return of 8% (the s&p 500 is above 10%), then you would have much, much more than that… like $2 million. Save $5,000/year for 3 years :
For example, consider your home and auto insurance deductibles.
An easy way to save $5,000 this year is to increase your insurance deductibles. Increasing your policy’s deductible from $200 to $1,000 may save you as much as 25% on insurance costs annually. Under these conditions, how much will you have just after you make the 3rd deposit, 3. Determine how much you can save each month.