Saving for retirement in the future doesn’t mean you can’t enjoy today. However, there’s a level of discipline required around your decisions when it comes to how you spend your money now to ensure you have the retirement you want later.
Little decisions add up and it’s important to know how to make your money work for you so it will compound itself and grow over time.
In this episode, John explains the give and take of planning for retirement and why finding a balance between how you want to live today and in the future is key.
In this episode, you’ll also hear:
- Understanding compound interest and the Rule of 72
- Making tomorrow a deliberate part of your decision making
- Recognizing financial security is based on your decisions
[00:03:32] There’s a little math trick we use called the Rule of 72, and you take the rate of return that you’re going to receive, and you divide that into the number 72, and that roughly tells us how long it takes for money to double.
[00:05:52] The answer is not necessarily denying yourself everything, it’s finding a balance where you’re living for today, but also putting away for tomorrow, and making that a deliberate part of your life and your decision making.
[00:07:58] The market will do its thing over time. You have to do your thing. You have to make the proper decisions. You have to be disciplined and save and invest.
Find your path to winning at wealth by visiting https://www.winningatwealth.com and by following us on:
Facebook Page: https://www.facebook.com/profile.php?id=100083889685976
YouTube Channel – https://www.youtube.com/channel/UCyP_4AF2aWUaEK-YSLjguvA
Disclosure: The following program is sponsored by Fourth Avenue Financial, which is solely responsible for its content. Securities offered through J.W. Cole Financial Member FINRA SIPC, Investment advice offered through J.W. Cole Advisors. Fourth Avenue Financial, J.W. Cole Financial, and J.W. Cole Advisors are unaffiliated entities. The opinions expressed by John K. Burdette II should not be construed as specific investment, legal, or tax advice. All economic and performance information is historical and not indicative of future results. Investing may involve the risk of loss of principal. Any Tax advice on this show is not intended to be used by any person for the purpose of avoiding US federal or state tax penalties that may be imposed on such a person, and each listener should seek advice from their tax advisor or legal counsel on topics that arise from the show. John K. Burdette II is not providing legal or tax advice. Nothing should be construed as solicitation of an offer to buy securities.
The preceding program is sponsored by Fourth Avenue Financial, which is solely responsible for its content