Very simple projections

Have you ever wanted to work out how much you might be earning at a future date?

This is a very simple way to project forward using an assumed growth rate.  It's easy if you have even the most simple pocket calculater from your local pound shop.

Step 1

At what rate do you expect your salary to grow?  3% per year, 5%, you choose.

Take the above number. Divide by 100 and then add "1".

So for example 3% becomes "1.03"

Step 2

Hit the multiply button twice.

(This tells you calculator to keep multiplying by that number every time you hit the = button

Step 3

Tap in the amount of your current salary and press =

(You have now calculated your projected salary after one year)

Step 4

For years 2, 3, 4, 5 etc.............just keep tapping the = button.

For example, if you hit the = button 30 times, you have calculated your projected salary in 30 years time.

It is that easy.

You can of course use this method to project any value by yoru chosen growth rate over time.  Pension funds, ISA funds, whatever.