For younger investors – say those between 25 and 35 – retirement can seem like a LONG way off. And in a way, it is. But that doesn’t mean you shouldn’t start thinking about it now. Starting to save and invest for retirement early is one of the best gifts that you can give yourself and your family.
If your employer is one of the estimated 94 percent that offer a retirement plan, your opportunity really blossoms. Many younger workers start out by contributing about five percent to a 401(k). An increase of just one percent can easily mean as much as $100,000 more by retirement!*
Of course, as your earnings grow, an even larger increase in contributions is certainly advisable. A reasonable goal is actually 15 percent. That may seem like a lot, but just keep in mind that compounded investments will make that number grow substantially. If your company matches contributions, contribute as much as possible – that’s free money!
The sooner you start to think seriously about your retirement, the easier it will be to make small but significant adjustments to your overall financial plan. Ambassador Advisors will help you navigate the options you have to maximize your wealth and ensure your financial future.
Ambassador Advisors is a Registered Investment Advisor. Securities offered through American Portfolios Financial Services, Inc. of Holbrook, NY, 631-439-4600 (APFS), member FINRA, SIPC. Investment Advisory Services offered through Ambassador Advisors, LLC. Ambassador Advisors is not owned or operated by APFS. To determine which college saving option is right for you, please consult your tax and accounting advisors. Neither APFS nor its affiliates or financial professionals provide tax, legal or accounting advice. Please carefully consider investment objectives, risks, charges, and expenses before investing. For this and other information about municipal fund securities, please obtain an offering statement and read it carefully before you invest. Investments in 529 college savings plans are neither FDIC insured nor guaranteed and may lose value.
Any opinions expressed in this forum are not the opinion or view of Ambassador Advisors or American Portfolios Financial Services, Inc. (APFS). They have not been reviewed by either firm for completeness or accuracy. These opinions are subject to change at any time without notice. Any comments or postings are provided for informational purposes only and do not constitute an offer or a recommendation to buy or sell securities or other financial instruments. Readers should conduct their own review and exercise judgment prior to investing. Investments are not guaranteed, involve risk and may result in a loss of principal. Past performance does not guarantee future results. Investments are not suitable for all types of investors.
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