Why think about retirement now when it is so far away? You have probably have heard the saying that what you do now will determine how your future turns out. Well, it also applies when it comes to the investment world.
Building your wealth from your investments takes time and patience will be necessary but at the same time you want to be able to retire on your OWN terms. Investing will help accelerate your retirement money and help you to prepare for the unexpected.
Causes of Unplanned Early Retirement To Be Aware Of
- Health Reasons/Sudden Illness
- Caring For Elderly Parents
- Company Lay offs
To have a bright future, you must start investing now while time is on your side. Get started by opening an IRA account with a broker or 401K account with your employer.
Some employers help contribute to your account if you deposit a percentage like 4%-6%….this is free money they bring to the table so find out if your company has this great deal. How can you say no to free money?! This extra help just makes your retirement account all the much sweeter.
After opening an account, you might think to yourself, “Is there another way to grow my retirement besides stocks?”
Yes, there is another desirable option like investing in a mutual fund but I must say that it will not grow as fast as a reputable company stock. A mutual fund consists of a pool of domestic stocks, bonds, foreign stocks, and other assets all grouped together that are professionally managed by a portfolio manager. This is quite different than you managing your own stock account so consider investing in both stocks and mutual funds to gradually grow your account.
BENEFICIAL COURSES TO HELP YOU GET AHEAD:Stocks, Bonds, and Investing Class The Analysis and Valuation of Stocks Class
Time is of the essence. You have to decide that now is the time to get started in planning for your future. Another year that goes by is just another year lost in accumulating wealth. If you still have some hesitation, make it easy for yourself and start small.
Taking small steps is better than doing nothing at all.
Reading books, taking online classes, and asking questions can help you understand the stock market a lot better. With these resources, you will build the confidence you need to make great investment decisions leading you closer to creating the comfortable retirement you desire.
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By Krystle Hall