Budgeting and Savings. Anne Marie Anderson, CPA & SIFE. Embrace your budget!. Goal setting Short-term (< 3 months) Present for boy/girl friend Duke Nukem video game Intermediate (3 months – 1 year) iPad Phone Long-term (> 1 year) Car 4 year college. Construct your budget.
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Budgeting and Savings
Anne Marie Anderson, CPA
Person A: Saves $2000 per year from age 22 to age 35 and then stops
Person B: Starts saving $2000 per year beginning at age 35 and never stops
Both earn 8% on their investments.
At age 75:
Person A has $1M in savings
Person B has $561K in savings