Personal Pension
Mar 17, 2021 ·
55m 39s
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Description
On this episode of Money on Tap, Ben and Seth define the meaning of some really important retirement terms, such as ‘annuity’ and ‘pension.’ Curious to know how those affect...
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On this episode of Money on Tap, Ben and Seth define the meaning of some really important retirement terms, such as ‘annuity’ and ‘pension.’ Curious to know how those affect your retirement plans? Tune into this episode to find out how to make your money work best for you, even in the long run towards retirement.
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- How much difference does starting to invest early really make?
Run one habit through the math: $200 a month at a hypothetical 7% return reaches over half a million dollars by 65 if it starts at 25 — about $244,000 starting at 35, and about $104,000 starting at 45. Same money, same return; the only variable is time, because compounding does its heaviest lifting in the earliest decades. You don't need to be wealthy to build wealth — you need time, consistency, and a plan, and you control all three: how much you save, how much you invest, and how long you let it grow. Start with the employer match (a 100% return the day it posts), automate a contribution you'll never turn off, and escalate it with every raise. If the ideal start has passed, the lesson isn't regret — it's urgency.
Information
| Author | Seth Krussman & Ben Brayshaw |
| Organization | Seth Krussman & Ben Brayshaw |
| Website | - |
| Tags |
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