| Year | Basic | Increment | Annual | Save | Savings |
|---|---|---|---|---|---|
| 1 | $3,000 | 10% | $36,000 | 20% | $7,200 |
| 2 | $3,300 | 10% | $39,600 | 20% | $7,920 |
| 3 | $3,630 | 10% | $43,560 | 20% | $8,712 |
| 4 | $3,993 | 10% | $47,916 | 20% | $9,583 |
| 5 | $4,392 | 10% | $52,708 | 20% | $10,542 |
| 6 | $4,832 | 10% | $57,978 | 20% | $11,596 |
| 7 | $5,315 | 10% | $63,776 | 20% | $12,755 |
| 8 | $5,846 | 10% | $70,154 | 20% | $14,031 |
| 9 | $6,431 | 10% | $77,169 | 20% | $15,434 |
| 10 | $7,074 | 10% | $84,886 | 20% | $16,977 |
| 11 | $7,781 | 10% | $93,375 | 20% | $18,675 |
| 12 | $8,559 | 10% | $102,712 | 20% | $20,542 |
| 13 | $9,415 | 10% | $112,983 | 20% | $22,597 |
| 14 | $10,357 | 10% | $124,282 | 20% | $24,856 |
| 15 | $11,392 | 10% | $136,710 | 20% | $27,342 |
| 16 | $12,532 | 10% | $150,381 | 20% | $30,076 |
| 17 | $13,785 | 10% | $165,419 | 20% | $33,084 |
| 18 | $15,163 | 10% | $181,961 | 20% | $36,392 |
| 19 | $16,680 | 10% | $200,157 | 20% | $40,031 |
| 20 | $18,348 | 10% | $220,173 | 20% | $44,035 |
| Savings after 20 years | $412,380 | ||||
Is this even possible?
Personally, I thought this is simply impossible after factoring inflation and many other factors such as medical, education etc…
possible, but the total savings figure ignores the time value money and interest of your savings…
CONFIRM CANNOT.