Living Debt Free & Truly Wealthy, The found money specialist, United States
As soon as possible, the greatest asset you have is time, and it takes time for money to build. If you add earning a rate of return on your money and have that money compound over the years than your money can grow to a huge lump sum.
What you want to do is find the right savings vehicle that will give you the best return. How about a tax free retirement?
Are you familiar with tax deferred?
How about avoiding penalties if you take an early withdrawal.
There are many things to consider but the earlier you start the greater chance you have of saving a lot of money for retirement.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
Most of the people with whom I consult wished they had started several years earlier. When you are young you have enormous human capital (you are going to earn a pile of money.) Someday that human capital will be exhausted and you will have to rely upon “financial capital.” The government has most of us contributing to Social Security so you have financial capital. However, living on the Social Security benefit is rarely enough for most. Move your capital from today to tomorrow!
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What you want to do is find the right savings vehicle that will give you the best return. How about a tax free retirement?
Are you familiar with tax deferred?
How about avoiding penalties if you take an early withdrawal.
There are many things to consider but the earlier you start the greater chance you have of saving a lot of money for retirement.