What would you do with a thousand dollars today? Spend it on a new sound system, or workout equipment? I have a better idea, plan for your retirement. OK that does not sound sexy or exciting but it is the smart thing to do.
If you consider the Rule of 72, its easy. Divide the number 72 by your rate of return. The answer is te number of years it takes for you to double your money. For example 72divided by 7 equals 10.29 years. So if you spend a thousand dollars today, you could just add another zero to the price and that is what you could have had saved for your retirement!
So those of you that have an 'under the mattress account, take heed. Interest adds up! Don't be a 'blockhead' put your money in the bank. OK, I am off to deposit the contents of my piggy bank. I want the extra interest to work for me and my retirement!
Cheers!
Betina
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