Easy way to boost retirement funds- Wealth Tip #19

Published: Sat, 10/20/12

Yahoo!Finance picked up Early Savings Could Pay off Later in Retirement

Hi, --When Yahoo!Finance picked up my retirement article, I was reminded that everyone is worried about the future. Whether you're young or old, the economic uncertainties and market volatility create anxiety.

Today I'll describe the best strategy for wealth building. Young or older, you can plan all you want, but no one knows for certain how much money you will need in retirement. This strategy is elegant in it's simplicity, but employs 2 powerful wealth building techinques:

1. Dollar cost averaging

2. Compounding of returns

Transfer (or increase) at least 10% and more if you can of your earnings into an Investment/Retirement Account

Groundbreaking research by scholars Steven Venti of Dartmouth University and David Wise of Harvard found that the greatest determinant of lefetime wealth is a person's savings rate.

Need more motivation? Jean Chatzky in The Difference found that 55% of self made rich attributed habitual saving to their financial success.

If you already transfer money into a retirement account, boost your contribution by a percent or two.

, Direct these funds into a diversified portfolio of stock and bond index funds and let the money grow. Do not sweat the ups and downs of the investment returns. Markets are volatile, but if you believe that the USA and world economies will continue to grow, investing in them allows you to benefit.

TOP RETIREMENT ARTICLE'S

Early Savings Pay off Later in Retirement- my professor interview at Bankrate.com

Fidelity's New Retirement Guidelines

Save for Retirement Now

Questions?

Just reply to this email. I'm happy to help.

Best regards,

Barb

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