For which of you, intending to build a tower, does not sit down first and count the cost.
Luke 14:28-30
Begin saving for retirement before you turn 40. What can you start doing today to make that effort more productive and improve your chances of ending up with more retirement money?
Go to the ant, consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest. Proverbs 6:6-8
Structure your budget with the future in mind. Live within your means and assign a portion of your earnings to retirement savings. Although any percentage is better than nothing, ideally, a minimum of 10% of your wages should be poured into your retirement fund. If that seems excessive, consider this: You are at risk of living 25-30% of your lifetime with no paycheck except for Social Security, assuming Social Security is still around when you retire.
Saving and investing 10-15% of what you earn for retirement can make an impact over time. For example, a person in their thirties who deposits $4,000 into a retirement investment account consistently earning 6% will see growth to $30,744 by age 65, with no additional contributions. If monthly contributions of $400 are added to that initial $4,000, the r ...
