Perhaps the easiest thing to put off is planning for retirement.
The benefits of starting early are great and the penalties for not are severe. Remember the magic power of compound interest fueled by the rule of 72, (years to doubling equals 72 divided interest rate) example 10% doubles in 7.2 years. You no doubt have seem the tables how much more a 25 year old can accumulate by starting early. Start early get more, have more choices and planning opportunities.
If you do not plan then unless you are very fortunate to have a very generous and well funded company pension plan you could find yourself with little more income other than the basic social programs.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local Retirement Planner, you could start with a Google search. For example, if you search for: retirement planner Halifax or retirement planning Halifax, my name, along with several others, will come up. You can use the same method to find Retirement Planners in your community.
With people living longer, while companies are paying out few pensions, it is very important to save and invest for your retirement. Otherwise you could find yourself living many years having to pinch pennies to lead a good quality of life. Yes, Americans can (and must) work longer than years past, but not everyone has the health and stamina to do so. Planning for retirement is essential so that your later years of life can be as fulfilling as the years you spent working.
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The benefits of starting early are great and the penalties for not are severe. Remember the magic power of compound interest fueled by the rule of 72, (years to doubling equals 72 divided interest rate) example 10% doubles in 7.2 years. You no doubt have seem the tables how much more a 25 year old can accumulate by starting early. Start early get more, have more choices and planning opportunities.
If you do not plan then unless you are very fortunate to have a very generous and well funded company pension plan you could find yourself with little more income other than the basic social programs.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local Retirement Planner, you could start with a Google search. For example, if you search for: retirement planner Halifax or retirement planning Halifax, my name, along with several others, will come up. You can use the same method to find Retirement Planners in your community.