SESKStuff Everyone Should Know
SESK: Stuff Everyone Should Know · sesk.info/teen-compound-start-early

Saving $100 a year from age 14 at 5 percent grows to about how much by age 65?

About $23,000, thanks to compounding.

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  1. About $5,100
  2. About $23,000 ✔
  3. About $10,000

Why: You would put in only $100 times about 51 years, or $5,100 of your own money. Compound interest earns interest on the interest, so time does most of the work.

Huh, didn't know that: Starting at age 35 instead gives about $7,000 at 65, under the same example.

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References

Answer: About $23,000. You would put in only $100 times about 51 years, or $5,100 of your own money. Compound interest earns interest on the interest, so time does most of the work.

  1. CFPB Money as You Grow: Teens and saving www.consumerfinance.gov/consumer-tools/money-as-you-grow/teen-young-adult/explore-saving
    If they set aside $100 every year starting at age 14, they'd have about $23,000 at age 65.
    Checked 2026-10-10.

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