Wednesday, September 26, 2012

Save for your retirement

When it comes to saving for your retirement, if you're young, a little goes a long way!

Check out this infographic about the power of compound interest: retirement planning

So for those young readers out there - don't waste your great advantage that you have right now: your age! Pay off debt and create a three- to six-month emergency fund, then start investing for your retirement. As you can see from the graphic, a small amount of investing when you are young has huge impacts later!

For those of us that are a little older, don't let these numbers make you feel defeated. Continue to save for retirement, even though compound interest won't have as big an impact. But every bit of savings helps!

(This post may contain affiliate links. Please see my disclosure policy for more information.)


Anonymous,  September 26, 2012 at 3:52 PM  

Here is one other hard lesson I learned if you save for retirement make certain your name and your own name only is the only name on the account. I saved for 30 years with hubby. Then one day hubby took it all! So just be careful out there.

Frugal Follies September 26, 2012 at 9:23 PM  

@Anonymous - I'm so sorry to hear that! That is just terrible. I hope you are looking into your legal options.

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