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Cost of Waiting

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The cost of waiting one year to plan for retirement The cost of waiting one year to plan for retirement

THE COST OF WAITING ONE YEAR TO PLAN FOR RETIREMENT



Retirement today is not what it used to be. People are living longer, and want to live their retirement on their terms. In order to have the retirement of your dreams it's important to make sure your finances have been properly planned for. Waiting even one year to start contributing $200 a month to building a enjoyable retirement can cost you alot of money over the long run.  The younger you are, the more you stand to lose!  If you think you don't need to start a retirement plan today, see what can happen if you wait.

 Your age when
you start

 Your retirement plan
balance at 65

 Cost of waiting
one year

25

26

$648,361

$598,017

 $50,344

35

36

$283,523

$260,204

$23,319

45

46

$114,532

$103,731

$10,801

 

 

 

 

 

 

 


 

 

 

 

 

 

However, it's never to late to begin.  If you've been putting off saving for retirement, there's no time like the present to start. Contact you financial advisor today to learn how to start saving.

 

 

 

 

 

 



This is a hypothetical illustration based on 8% rate of return and retirement at age 65.  It is not indicative of any particular investment or performance and is not guaranteed.

 

 
 
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