One of the wisest things that people in their twenties and thirties can do in Greenville, SC, is to start planning for their future. There are some very simple steps that young professionals and those starting their careers can use to increase their savings and open up a world of possibilities for early retirement.
Matt Dixon is a Registered Financial Consultant in Greenville, SC, who works with individuals and couples of all ages to plan their retirement. Even in the early years of a career, it is possible to begin to build your retirement fund in a way that allows for maximum growth, tax savings, and the opportunity to take advantage of various investment opportunities.
The Benefit of Compound Interest
Maximizing savings and retirement investments in 401(k) plans is particularly important for those who are younger. When the employer matches, it is critical to take advantage of the full amount of the match whenever possible. With the employer match, the employee doubles her or his investment every year.
At the same time, there is the benefit of compound interest. Matt Dixon can show people how earning interest on interest has amazing potential to rapidly increase your retirement portfolio. The longer you can take advantage of compound interest, the more significant the long-term earnings.
Risk and Reward Investments
The longer you have to retire, the more comfortable it is to invest in higher risk types of assets in a portfolio. The closer to retirement you get, the more important it is to move to lower risk options, protecting your savings. Throughout your investment plan, Matt Dixon will make recommendations to maximize the risk and reward balance in your investment, assisting you in making it to your retirement goal on your timetable.