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Retirement Planning: Never Too Early to Start:

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    • points: SocietyStars 1,946 SocietyStars

      Welcome to the ultimate forum for forward-thinkers who understand that the sands of time wait for no one. “Retirement Planning: Never Too Early to Start” is your sanctuary for navigating the myriad aspects of preparing for a future you can look forward to. This space is where we demystify pension plans, 401(k)s, IRAs, and all the other acronyms that serve as the building blocks of a secure retirement. Whether you’re in your early 20s, wondering how to make the first move, or a veteran saver curious about maximizing returns, this is your one-stop shop for advice, strategies, and moral support. Share your wins, setbacks, and eureka moments. Ask questions or offer wisdom. If you’re looking to crack the code on compound interest or simply find the best age to start investing, you’ve found your community. Ideal for anyone eager to set themselves up for a comfortable and worry-free retirement.

    • points: SocietyStars 5 SocietyStars
      Rank: Recruit Rank badge Recruit

      Most people assume if they only have a small amount to save and invest that it’s not worth the bother. But, is $0 saved better than some? Living paycheck to paycheck feels awful and stressful. Having money in the bank makes you experience feelings of abundance every single day. That is priceless. It requires sacrifice, mostly of the short-term instant gratifying stuff, but it changes your whole life from one of stress and destitution to “riches”. I don’t mean you need money to be happy, but certainly having no money isn’t the makings of happiness. Money frees you! It frees you from worry that you and your family will have what they need. It frees you from the stress of not having enough to cover your debt (which I think you should free yourself). It frees you from having to work a job you hate. It frees you from the stress and worry of losing your housing, food, etc. It frees you from work entirely if you plan well. That’s my why.

      $50 a month at a 7% return compounds to ~$24,791 in 20 years. Try this calculator for fun and try different amounts: https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator

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