Money myth #3: There is no reason for retirement planning before 40

Retirement Planning

Retirement is so far away. I shall start thinking about retirement planning when I’m in my 40’s. By then, I would still have another 10 to 20 years to save for retirement. It’s more than enough, right?

Why it’s a myth?
Having plenty of time actually is the best reason to start saving now. Starting retirement saving early can reap the benefits of compounding interest. The earlier you start, the harder your money can work for you, the earlier you can retire. Why wait until you’re 55 when you can retire at 35?

Call to action:
It’s never too early to start planning for retirement. It’s advisable to start planning in your 20s and give more time for your money to work for you. Based on your risk appetite, there are many retirement planning alternatives that offer higher returns than the bank. No matter what age you are now, we have professionals to help you out. Talk to us today.

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