9 Secrets to a Million Dollar Retirement (Page 2 of 10)
Categories: Invest Wisely Retirement Center
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Retirement Planning Secret #1:
Start Your Retirement Planning NOW
Whether you’re 25 or 55, there’s no time like the present to begin your retirement planning.
The good news, even for late-starters, is you can dramatically grow your money... thanks to the incredible power of compounding interest.
Here’s an example: Suppose you sock away $50,000 that pays 8% over 20 years. After the first year, your money grows by $4,000 to $54,000. The following year, that 8% interest is now based on the new amount of $54,000, so the interest payment grows from $4,000 to $4,320.
Before you know it, 20 years whiz by and your $50,000 is worth $233,000 — WITHOUT adding a single penny to your savings! (To calculate how much YOUR current savings will earn you with compound interest, use our handy calculator)
Of course, we DO recommend adding new money to your savings and investments each and every year. Read on to find out how much to put away...
Million Dollar Secret #2: Know What It'll Take to Reach Your Goal





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