The good news is, retiring comfortably isn’t just about the amount of money you’re able to put into the market. (via CNBCMakeIt)
Saving for retirement can feel daunting. With so many bills and expenses to take care of now, how can you save thousands,The good news is, retiring comfortably isn't just about the amount of money you're able to put into the market.
The earlier you start investing into retirement accounts, the more powerful the compounding effects will be because the money has more time to grow. That's why it's important to invest consistently throughout the duration of your career and avoid borrowing from your retirement funds early, if at all possible.
Here's another way to look at it: "Imagine that you have two choices for an allowance as a kid: Take a penny and double it for 30 days, or get $1,000 per day," Frank says. "Virtually all of us choose the $1,000. That is $30,000. We can do that math so easily."
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