Power of time

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When it comes to saving for college, the earlier you start, the more savings you can accumulate. These hypothetical examples are based on saving monthly for five, 10 and 18 years.

When it comes to saving for college, the earlier you start, the earlier your client's start, the more they can accumulate. These hypothetical examples are based on saving monthly for five, 10 and 18 years.

Amount saved per month:

$25 per month
5 Years 1737.14
10 Years 4061.84
18 Years 9523.99
$50 per month
5 Years 3474.29
10 Years 8123.67
18 Years 19047.97
$75 per month
5 Years 5211.43
10 Years 12185.51
18 Years 28571.96
$100 per month
5 Years 6948.58
10 Years 16247.34
18 Years 38095.94
$125 per month
5 Years 8685.72
10 Years 20309.18
18 Years 47619.93
$150 per month
5 Years 10422.87
10 Years 24371.02
18 Years 57143.91
$175 per month
5 Years 12160.01
10 Years 28432.85
18 Years 66667.90
$200 per month
5 Years 13897.16
10 Years 32494.69
18 Years 76191.88

Source: Invesco. Hypothetical are examples and estimates of a 6% average annual total return are for illustrative purposes only and are not intended to represent actual performance of any particular investment product or real investor, Your actual return isn't likely to be constant from year to year and there is no guarantee that a specific rate of return will be achieved.

While it's best to start early, it's important to remember that it's never too late to save — after all, five years of savings is better than none! Your financial advisor can help you get started and stay on course with the most appropriate investment choice for your family.

Learn about CollegeBound 529.

Learn how to start paying for college.

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