A Worry-Free Retirement Could Be Yours If You Do These Things
Retirement is a milestone to look forward to -- but it can also be stressful from a financial perspective. If you'd rather spend your senior years golfing and enjoying the beach as opposed to sitting home worrying about money, here are a few important moves to make.
You'll need money outside of Social Security to live comfortably, so contributing steadily to a dedicated savings plan is essential. But it's also imperative that you start doing so from a young age, because when it comes to growing wealth, time is really your most powerful weapon.
Imagine you're able to sock away $300 a month for retirement over 30 years. If you invest that money at an average annual 7% return (which is doable with a stock-heavy portfolio), you'll end up with about $340,000. Now that's a nice chunk of money, but if you were to start saving that $300 a month 10 years earlier, you'd wind up with about $719,000, assuming that same return.
Source Fool.com
