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Start Investing Now Before It Is Too Late!Accept it many of you are now spending on bills to pay for what you have wanted for years and now you can finally afford it. The last thing you will thing about is an investment for your retirement. It is your choice whether to have fun with spendingI can guarantee that it really does it make a difference when you start contributing. It is important to invest in your retirement account early in your career for two reasons. First, if you?re fortunate to receive matching contributions, you don't want to miss out on those added contributions that are a significant part of your retirement benefit. Second, the longer contributions stay in your account, the more you stand to gain. Your money makes money in the form of earnings, and those earnings in turn make money, and so on. This is The size of your account balance is going to depend on how much you (and your company if they match funds up to a certain percentage) contribute to your account and how your account grows as a result of earnings on your investments. To get an idea of what your retirement account could be in the future, look at the following projections. Think this way. Assume that you are an employee eligible for organizational contributions, that you are earning $28,000 each year, and that you receive no future salary increases. You choose to save 5 percent of basic pay each pay period; therefore you receive total organizational contributions of 5 percent. The growth projections below are for an assumed annual rate of return of 7 percent on your investments. After five years your account balance would be almost $17,000; after ten years your balance would increase to $40,000; and after contributing for twenty years, your account would have a balance of $122,000. Clearly your balance would continue to increase each year. If you contributed for forty years, which is fathomable if you start a job at 23 and want to retire at age 63, your account balance would be $615,000. That?s over half a million dollars folks! Just from contributing 5% of your income from the day you start work! Can this number convince you to start saving money now? Article Directory: http://www.articledashboard.com Dr. Drew Henry maintains a number of websites about banking, including Internet Banking, Investment Bank, and Investment Banking Permalink: http://expert-talk.com/tips/700/start-investing-now-before-it-is-too-late-36700.htm Related Tips and Advices
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