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The earlier you start pursuing financial goals, the better your outcome may be.

As a young investor, you have a powerful ally on your side: time. When you start saving and investing for retirement in your twenties or thirties, you can put it to work for you.

The effect of compounding is huge. Most people underestimate it, so it is worth illustrating. We will use reasonable annual return rates to do so – we will assume an investor can earn an average of 6-7% a year on his or her portfolio. Read more »

 

When is the last time you received a raise of $1,000 per month? For adults with young children, the high cost of daycare could be a $1,000-a-month opportunity in waiting. The cost of child care averages $14,500 a year for an infant, $12,280 a year for a 4-year-old. It's understandable if parents aren't piling money into that same child's 529 college savings plan quite yet.

However, when your child "graduates" from daycare, there's going to be some money freed up, say, $12,280 a year. A thousand bucks a month. Read more »

 

Before retirement begins, gather what you need. Put as much documentation as you can in one place, for you and those you love. It could be a password-protected online vault; it could be a file cabinet; it could be a file folder. Regardless of what it is, by centralizing the location of important papers you are saving yourself and your loved ones from disorganization and headaches in the future. Read more »

 

You can prepare for your retirement transition years before it occurs. In doing so, you can do your best to avoid the kind of financial surprises that tend to upset an unsuspecting new retiree. Read more »

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