Key Takeaways
- The earlier you start, the more time the power of compounding will have to work in your favor. At a 7% annual return, investing just $50 per month for 40 years could turn into more than $130,000.
- Supplementing traditional retirement savings, like those in your 401(k), with a Roth option can give you more control over your income taxes in retirement.
- Living a fruitful life in retirement isn’t only about accumulating financial wealth. Physical and mental health are equally important. And safeguarding these should start today, too.
Chances are that as soon as you start investing, you’re thinking about retirement. If you aren’t, you should be. There are few, if any, financial goals that require more legwork than saving and investing for retirement. Which means there are few financial goals that should come before investing for retirement.
