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Saving For Retirement On $5 A Day
by Ginita Wall, CPA, CFPClick here for a printable version. 
What
do you think is the most important factor for making your investments
grow? Is it what you buy, or when you buy, or when you sell? In truth,
its none of these.
The most important factor for wealth-building is the steadiness with which you invest, year after year, starting right now. Lets
say your neighbor has $100,000 invested in stocks and bonds, and he
spends the earnings each month, keeping the principal intact.
Meanwhile, you have saved very little. Do you think your neighbor is
wealthier than you are? Not for long.
If
you can set aside just $5 a day to invest at a 9% return, in 20 years
you'll have $100,000 just like your neighbor. Continue saving, and in
35 years you'll have amassed $440,000. And if you save $5 a day from
age 22 until retirement at 65, you'll have a cool million dollars, but
your neighbor will have just the same $100,000. Five dollars isn't much, but invested over time it can build a very comfortable retirement.
Originally Posted: Feb 24, 2007 at 4:00 PM Last Updated: Feb 2, 2010 at 9:09 AM -- Current Rating: 0 of 5 Click here for a printable version.
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