It’s time to get serious about my finances to build a great future.
When you’re young, it’s tempting to invest in your current life, rather than a distant future. You may be building your career, or your own company, traveling, buying a first home, or starting a family, and all of that takes resources.
But a strategic financial plan, even a simple one, is a smart way to cover both bases. It lets you make sure you have enough to live the way you want to live now while allowing your money to grow for the future.
You already know the math: the earlier you start saving, the more wealth you’ll build through the power of compounded interest (interest on the interest you earn.) If you start investing just $3,600 a year when you’re 22, you could have $1 million dollars by the time you turn 62 (assuming an 8% average annual return). If you wait until you’re 32, you’ll have to save $8,200 per year to reach that same goal by 62.
By making financial management a priority, you not only take control of your finances now, but you’re also taking control of your future too.