Investing For Retirement

Investing for retirement is easier said than done, it requires diligence, discipline and education. If you pity the sight of a 70 year old rubbish collector slogging hard when he should be taking vacations or pampering grandchildren, then you should not delay your retirement plans.

Anybody can retire as a millionaire, only if they take action today. The power of compounding is immense: money invested in a steady investment over a long period of time can make you very rich! Unfortunately, a lot of people fail to harness this amazing concept. And remember that compound interest must work for you instead of against you, so cut out credit cards and automobile loans which only benefits all these companies at your expense. We have many more Retirement Investing Help Articles Now Available.

To get you started, form a habit of saving at least 15% or 20% of your income for retirement. It is counter-productive to be too ambitious, so start from a $100 base if that is what you have. Even if you can only afford $2 dollars a payday, that is alright too, but be disciplined and save it every payday without fail.

If you are under the age of 30, you can retire with a million dollars by age 65 by putting away $100 a month. Invest in a mutual fund which consistently averages 15% annually, and you are a step closer to your objectives.

Alternatively, you can invest this money in a tax sheltered account, so that you don’t have to pay any taxes on capital gains.

For those who are younger, be more aggressive and then get a little more conservative as you get older.

When I say conservative, it means choosing an investment which guarantees five percent return over another one which promises twenty percent but a possible loss of all your nest eggs.

There is a difference between wanting to work and having to work. Thus, prepare adequately for your retirement so that you can engage in activities which you love later on in life. We have many more Retirement Investing Help Articles Now Available.