Welcome to 67years.com !

This is a website about saving money. It may sound boring, but it’s not ;)


Piggy bankBefore you start exploring this website, please try to answer this question:

Today Hannah is 7 years old, and Hannah’s mom saves $900 for Hannah. Assume the money ($900) will grow with 14 % / year.

When Hannah is 67 years old, how much will her savings be worth?

$   


 

Your answer: $
The correct answer: $2 336 327


When Hannah is 67 years, her savings will be worth  $900 * (1.14)60 = $2 336 327
(Because of inflation the value of the money has decreased. But in spite of that, Hannah’s savings are most likely to be considered as big.)

How is this possible?
The answer is that the most important thing when saving money is growth and time. The amount of money you start with may not be as important as you think…