Retirement Investors’ Club (RIC) News

Increasing your RIC Contribution Can Make a Big Impact

June 2018 

If you want to put extra money into your Retirement Investors’ Club (RIC) savings account, the example below illustrates how investing a small amount can increase your nest egg over time.  Some people choose to do this by saving money from their raises. Adding even $20/month ($10/paycheck) could be worth almost $20,000 when you retire. To request a payroll deduction increase, complete the RIC Account Form found on the RIC website.

 

Here’s how a small increase to your contributions might add up over time:

An additional contribution of: 10 years 20 years 30 years
$5/month could add up to … $812.37 $2,267.20 $4,872.56
$10/month could add up to … $1,624.73 $4,534.39 $9,745.13
$15/month could add up to … $2,437.10 $6,801.58 $14,617.70
$20/month could add up to … $3,249.47 $9,068.77 $19,490.26

These figures assume a hypothetical 6 percent rate of return over each time period.

New to RIC? Enroll today and begin receiving an employer match benefit! Contact one of the RIC providers  or visit the RIC website for more information.