Week 6 – How to Save and Invest for the Future

by Steve Georgoulakis, CFP® on Tuesday February 06, 2024
Posted in Category: Wallet Workouts

Wallet Workouts

Investing for retirement is a marathon so take it one mile at a time.

This week’s workout:

Save and Invest for the Future

  • The road to retirement is paved with consistent saving, wise investments, and financial discipline…kind of like running a marathon.
  • Making small efforts to save today — combined with the power of compound interest — can make a big difference when you cross the finish line at retirement.
  • But it’s up to you to take the first step.

 


Soldier holding flag in running formation

Mile 1

Set a consistent pace by saving or investing 10%-15% of your pretax pay for retirement.



Woman sprinting

Mile 2

Accelerate your investment returns through the power of compound interest.



couple running up stairs

Mile 3

Power up your retirement contributions when it’s easier – after promotions, pay increases or when you’ve paid off a debt.



 

Man running down a trail

Mile 4

Run your own race. In addition to saving in an employer retirement plan, go the extra mile and consider individual retirement accounts

 

 

 

 

 

Join us for 7 Wallet Workouts

ACHIEVE FINANCIAL FITNESS LIKE NEVER BEFORE!

Jan. 3 Have a Financial Game Plan

Jan. 10 Spend Less than You Earn

Jan. 17 Save for Emergencies

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Jan. 24 Use Debt Responsibly

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Jan. 31 Protect Your Life, Loved Ones & Possessions

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Feb. 7 Save and Invest for Your Future

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Feb. 14 Rest & Recovery

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Feb. 21 Prepare Your Legal Documents

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