Savings Fitness: A Guide To Your Money and Your Financial Future by U.S. Department of Labor. - HTML preview

Step 3.

1. Current savings

2. Number of years until retirement (from Step 1 line 1)

3. Projected value factor

4. Value of current savings at retirement (multiply line 1 X line 3) PROJECTED VALUE FACTORS

(by number of years until retirement)

20

25

30

35

40

45

3.8697

5.4274

7.6123

10.6766

14.9745

21.0025

If, for example, you have $2,000 in retirement savings and plan to retire in 35 years you would make this calculation: