Financial Freedom…Sounds great right?
So how do you get on a progressive track of financial freedom with all the pressure of student loans, rent, utilities, gas, kids, food, etc….I know many can relate to these types of pressures and trying to figure out how they will ever be able to save for their future.
We talk a lot about choice and having the power over the choices you make in life, whether positive or negative. This is a choice that is hard for many to make, but it’s a choice that will impact your future. We all know the saying “The clock is running. Make the most of today. Time waits for no man. Yesterday is history. Tomorrow is a mystery. Today is a gift. That's why it is called the present." You can’t go back in time, but you can make a choice today to save for your future and make a difference for your life at retirement. Not only is there a benefit of saving for your future, but what many don’t realize about 401k plans is that you can actually pull a loan from your “own” money and pay yourself back the principal and the interest. How awesome is that? You never know in life when you will need some money whether to get married, buy a new home, consolidate bills or whatever your reason may be, but you can feel confident investing in your 401k knowing you have that option available should you need it.
Contributing 1% of your income per paycheck can earn you a substantial amount of money at retirement time. Yes, you may be saying to yourself that you need every penny you can get at this point, but do you say that when you buy your morning coffee, your favorite cd...etc.,? What will you say when you are ready to retire and you never put anything into an investment plan and now you wish you would have made a better choice to spend your 1% of income wisely? The more you invest today, the greater the chance for growth that will pay off later. It’s like a financial security with a big red bow tied around it for your future self.
All 401k contributions are tax-deferred. What does this mean to you? Instead of paying tax on the return of an investment, tax is paid at a later date leaving the investment to grow unhindered.
You are never too young to begin investing…getting as early a start as possible will help you get to your goal even faster, even if you don’t know what that actual goal is yet. Another great benefit of starting early is the benefit of time. If a person begins investing at age 25 and plans to retire at around age 65, you will have 40 years to experience the magic of compounding interest and can take more investment risks.
Here is an example of am employee making $27,000 annually, roughly $13/hour at age of 25. If this person invests 1% into their 401k they will have approximately, $55,924 after 40 years depending on the market.
Who doesn't want to have a good future? Who wants to rely on social security when in actuality it may not even exist when it's time to retire? NOW is the time to start planning for your future and making the right choice to invest!
ENROLL TODAY! Attached is the login information for Verisight.
Contact CTR if you need further assistance or would like help walking through your investment options!
Happy Investing Tribe!
verisight_participant__enrollment_manual.pdf |