Skip to content

  • Print

Benefits resources: "The power of compounding" retirement planning from TIAA

Jun 22, 2016

True or False:  A penny that doubles in value every day for 30 days would be worth more than 5 million dollars. 

The answer: TRUE! 

It would be worth $5,368,709.12. 

it seems hard to believe when after two weeks it only adds up to $163.80.  But the longer your money has to work, the more chance it has to grow.  That's why it's important to start saving as soon as you can.  Even small contributions can add up over time. See this example below:

Examples of compounding at work

To find out more about Pacific's Retirement and Supplemental Retirement Plans look here.  If you are interested in registering for a webinar or a one on one consultation with a TIAA representative then visit TIAA website for dates and times.  

Join University of the Pacific on: Facebook Twitter Instagram LinkedIn Youtube