Oct
25
Posted on 25-10-2008
Filed Under (Retirement) by The Senior on 25-10-2008
retirement
amimarie_roberts asked:


why it is important to begin planning for retirement early?

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Comments

dclegg202 on 28 October, 2008 at 11:59 am #

Planning early for anything gives you more options, greater freedom and increased understanding.

Like the scouts say, ‘Be prepared’. In this case for anything!


Bold Man on 30 October, 2008 at 9:37 am #

by the time u reach retirement age u wont have time to think about it. and u can save more money if u start early.


chuck_norris_owns_you on 1 November, 2008 at 10:00 am #

You plan for retirement early so you can start putting money away in an IRA sooner. Your money will grow much further with compounding interest if you have a long time to contribute.


Kiran C on 4 November, 2008 at 2:55 pm #

If someone contribute $400 a month for 10 years in a investment that earns 8% and waits 20 years, he or she will have $341,081.45. If someone else waits 10 years and then invests $400 a month for 20 years, he or she will have $235,608.17. If you start early, you will have time to accure more money.


hawks1690 on 6 November, 2008 at 1:01 pm #

Hi,

The answer is it is up to the individual. Have a read at the following article and it might give you a few pointers.

Thanks


arch0049 on 7 November, 2008 at 4:07 am #

So you do not run out of money late…


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