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Time Really IS Money Summary

Time Really IS Money Summary - Investing for retirement is...

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Leslie Castelan FIN 3312 “Time Really Is Money” I am a 22 year old who has worked for the same company for over six years now and I have never signed up for a 401K. After reading this article I went straight to my benefits coordinator and signed up right away. I know I have missed out on quite a bit of money these past years, but better late than never right? Time is everything when it comes to saving your money. This article maps out the details of how waiting ten or even five years to save will make a great difference in the future value of your money. Let’s say that I put $100 in my savings that compounds at 10% annually. After the year I will have $100 + $10 totaling $110. And after 2 years you’re going to get 10% on $110. So now $110 + $11 totaling $121. So let’s say that we have a 7%. This shows us how time may be the single most important factor to your investing success.
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Unformatted text preview: Investing for retirement is something I have really been worried about due to all of this country’s financial problems. I am scared that I will not have a sense of security 40 years from now. I want to reach my golden years with dignity not humility. Getting older will happen I can’t stop this. But I can start investing/saving now. I believe if you have quality investments it will come back to you. Keep investment/saving simple. Learning how to save money is crucial not only for me but for the future of this country. In almost no circumstance should you not begin saving and investing in that situation. Time is not only money but MY money. "The best time to start investing was yesterday. The next best time is today." This said by Tom Gardner is a perfect impact to people who don’t save. Start investing early!!!...
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