Retirement? Am I crazy? You're young! You're at the beginning of your career, not the end! Why on earth am I boring you with something as far away as retirement?
I'll tell you why. Saving small amounts now could make a major impact in your retirement options in the future. Don't believe me? Let's take a look:
What would happen if we saved $200 a month starting at the following ages assuming an 8% return, and we retired at 67?
Now let's say you contribute $450 a month, the maximum allowed contribution to a Roth IRA, every year until you turn 67, what might that do?
Hard to believe? Check it out for yourself using this Investment Calculator. Make sure you also take a peek at how much you would contribute compared to how much your investment could grow.
At Custer Financial Advisors, one of our core values is encouraging people to leverage the power of small changes over time. Starting to save for retirement early is one of those small changes that could have an enormous impact on your future self. There are a variety of simple ways you can get started with retirement savings. Talk with an advisor today to learn more.