How Much Can I Save?
Members can save as little or as much as they want.
No amount is ever too small to save.
We encourage members to save small amounts regularly rather than large irregular lump sums.
The table below illustrates the impact of saving a consistent amount over a period of time.
| Weekly Savings | Annual Amt | After5 yrs | After10 yrs | After15 yrs |
| €5 | €260 | €1,300 | €2,600 | €3,900 |
| €10 | €520 | €2,600 | €5,200 | €7,800 |
| €20 | €1,040 | €5,200 | €10,400 | €15,600 |
| €30 | €1,560 | €7,800 | €15,600 | €23,400 |
| €40 | €2,080 | €10,400 | €20,800 | €31,200 |
The above figures excludes any dividends you will earn on your savings.
Saving for children’s education is becoming increasingly important.
To give an idea of the type of planning required to fund third level education, it is estimated that a 4 year college course will in the region of €45,000.
The lesson from this table confirms the earlier you can commit even a small amount of savings for eduction or any other purpose, the better!
|
Child’s Age |
Weekly savings | Monthly savings | Number of years |
| 1 | €51 | €221 | 17 |
| 5 | €67 | €290 | 13 |
| 10 | €97 | €420 | 9 |
| 15 | €289 | €1,250 | 3 |
