Best way to start planning for retirement on a budget?
February 5, 2010 by
Filed under realestate rentals
I am mid 20’s and don’t want to be 70 before we can be “retired”
Loking for ways to make a little money grow a little over time either through smart purchases or some type of plan, or I don’t really know. Some people I know are getting realestate for rentals, maybe I can do that later, but am short budgeted now.
My best advice is to speak to a financial advisor. And good for you to start planning now.
The BEST thing that you can do is to start saving. Whether it is $5.00 a week or $100.00 or more. No amount is too little and it is never to soon to start. Building wealth takes time. In this age of instant gratification that is sometimes hard to grasp. $50 in a bank account doesn’t seem like much right now, but saving is a habit, and it takes discipline, like going to the gym. Once you get into the habit, the dollars will take care of them selves.
For now, just put it in the bank. When you accumulate a little money then you begin to think about the best places to put it to work.
Good luck…I wish I was in my mid 20’s again!
Ed