Make More Money the Easy Way
Make More Money the Easy Way
One excellent way to do this is to start saving early! If you are able to put aside $20,000 by the time you’re 35 years of age, you’ll have $142,000 by the time you are 65 (at a 7% return). But if you wait to invest $20,000 when you are 45, you’ll only have $81,000 when you are 65 (also at a 7% return). Delaying ten years costs you almost half of what you would otherwise have at retirement. The results are even worse, even heartbreaking, if you delay until 55 (see chart below).
Invest $20,000 at Different Ages
(Based on 7% return per year)
Age at Initial Investment Return at age 65
35 $142,000.00
45 $ 81,000.00
55 $ 40,000.00
When the amount of money invested (at any age) is more,
the return is proportionately greater.
Most financial advisers suggest maxing out any tax advantaged retirement plan preferentially before saving in taxed accounts. This means even greater return on your money because it is not taxed during the accumulation phase, but when it is taken out.
Essentially, the more you have to invest plus the longer you have to do it, the more reward you will glean. It’s delaying gratification now for a greater reward later.
Make More Money the Easy Way - To learn more about this author, visit Shirley Mueller's Website.
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Laboring for every dollar you earn is one thing. Getting it by investing wisely is another. There’s almost certainly less labor involved. Many people think smart investing is the most reliable way to get rich.
One excellent way to do this is to start saving early! If you are able to put aside $20,000 by the time you’re 35 years of age, you’ll have $142,000 by the time you are 65 (at a 7% return). But if you wait to invest $20,000 when you are 45, you’ll only have $81,000 when you are 65 (also at a 7% return). Delaying ten years costs you almost half of what you would otherwise have at retirement. The results are even worse, even heartbreaking, if you delay until 55 (see chart below).
Invest $20,000 at Different Ages
(Based on 7% return per year)
Age at Initial Investment Return at age 65
35 $142,000.00
45 $ 81,000.00
55 $ 40,000.00
When the amount of money invested (at any age) is more,
the return is proportionately greater.
Most financial advisers suggest maxing out any tax advantaged retirement plan preferentially before saving in taxed accounts. This means even greater return on your money because it is not taxed during the accumulation phase, but when it is taken out.
Essentially, the more you have to invest plus the longer you have to do it, the more reward you will glean. It’s delaying gratification now for a greater reward later.
Make More Money the Easy Way - To learn more about this author, visit Shirley Mueller's Website.
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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