This week’s article tells us: “The best day to start saving is today, even if you can save only a little bit.”
The math is very interesting and worth the read. The article explains, “If two people put the same amount of money away each year ($5,000), earn the same return on their investments (6 percent annually) and stop saving upon retirement at the same age (67), one will end up with nearly twice as much money just by starting at 22 instead of 32. Put another way: The investor who started saving 10 years earlier would have about $500,000 more at retirement. It’s that simple.”
Give our office a call: 801-655-4898. We have some ideas for where you might put those annual savings. Our promise is to keep your retirement plan simple.