Written by 1:00 am Financial Wellness Views: 23

Why Consider Retirement Planning Now?

The earlier that you start, the more years of interest you will accumulate! You’ll be wealthier in the long run and less stressed out when the time comes!

Start Now, The Best Decision Of Your Life!

Retirement planning is typically viewed as a concern for the later stages of life, but I highly recommend you start early.

Now, you don’t have to do too much early, and planning should not be a priority. However, understanding why you should plan early is something that you’ll thank me for later.

Not only does planning now generate more wealth for you long term, but it solves financial issues you will not have to deal with when you’re old.

This allows you to fully enjoy your retirement like by playing pickleball or golf every single day!

Why Compound Interest?

  • Compound interest is your best friend when it comes to growing your retirement savings.
  • Most people retire at age 65-70, so investing in your 20s rather than in your 40s will accumulate 20 years more of interest!
  • According to a study by the “National Bureau of Economic Research,” individuals who start saving for retirement in their 20s accumulate substantially more wealth over time.
  • Check this compound interest calculator to see where you stand now…

Guarantee Your Long-Term Financial Security!

  • Early retirement planning provides a foundation for long-term financial security.
  • It allows you to set clear goals of how much you want to save.
  • Individuals who engage in early retirement planning report higher levels of their standard of living.

Find Opportunities Now You’ll Regret Not Having Later

  • By planning retirement earlier, you have more flexibility to find new investment options.
  • You are able to take advantage of new markets that will arise.
  • By waiting to invest in a new market that has a lot of potential, your stock value may not be as high as it could have been.
  • Start retirement planning early so that you can diversify your investment portfolios, leading to more financial flexibility.

Nobody Should Be Old & Stressed!

  • Knowing that you are taking proactive steps towards your financial future indirectly impacts your mental wellness.
  • Early retirement planning fosters a sense of control and security, contributing to a happier self, which you want in the last few decades of your life!
  • There is a positive correlation between early retirement planning and improved mental health outcomes, such as reduced anxiety and depression.

Questions, Comments, Concerns?

Obviously, retirement is a long way away, and you don’t have to worry about the specifics of retiring now.

I’m just saying that small investments can go a long way, and you’ll be relieved by the end of your career.

Thanks! Questions are welcome below!