How can $2,000 make a huge difference in your retirement account?

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By starting at age 25. Look at what the results are with an 8% return. Check out what happens if you wait but put more money in. This simple strategy could turn you into a millionaire. Discipline and consistency beats everything in the world of investing.

benefits of investing early

 

Our young investor saved $2,000 a year from the age 25 – 70 for a total saved of $92,000.  Yet at 8%* return this investor ends up with $903,800.30 for his retirement savings.

Our older investor saved $5,000 a year from the age 40 – 70 for a total saved of $155,000.  With an 8%* return this investor still ends up with less than our younger saver coming in at $666,067.69 for retirement.

The power of saving as early as possible can be the difference between living month to month in retirement and a fun and secure retirement.

It might require a small sacrifice such as giving up a vacation or less going out to dinner less but the difference over time is huge.  $2,000 a year is $168 a month – I challenge you to find something you can forgo in order to start saving today!

Read more: http://www.takeasmartstep.com/save-for-retirement-benefis-of-investing-early/#ixzz2pgEjojEg

Source: Roger Wohlner

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