Why Increasing Your Savings Rate is So Important
How much time does increasing your savings rate save you in retirement? ... The answer may surprise you.
In this week's video, Casey discusses how a small increase in your savings rate *COULD* put your financial goals closer at hand. Other factors like your time horizon, rate of return and where you are starting from will also impact how soon you reach your goals.
But the point remains the small increases to your savings rate compounded over time can have a huge affect on your financial situation.
Tune in to hear the case for increasing your savings rate!
#retirement #investing #personalfinance
0:24 - Saving money
0:54 - Time vs. Money
1:50 - Retirement Savings Example 1
2:41 - Increasing Savings Rate
3:37 - Retirement Savings Example 2
4:12 - Compounding Changes
Mullooly Asset Management is a fee-only financial planning and investment advisory firm. We are located in Monmouth County, NJ. We work to educate our clients to prepare for, and enjoy their retirement.
Mullooly Asset is a family business - Tom, along with his sons Brendan, Tim and Casey work with clients in managing their investments and financial planning matters.
The "Mullooly Asset Show," has 300+ videos, and 400+ podcast episodes, which can be found at https://www.mullooly.net.
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None of the content on our videos, podcasts, website or social media should ever be considered to be investment advice, financial planning advice or a recommendation to buy or sell investments. Nor should our content be considered research. Please our website for complete details.
This video is not a recommendation to buy or sell any of the investments mentioned. None of the securities mentioned in this video represent past specific recommendations of Mullooly Asset Management.
We rely on fundamental and technical analysis. Neither fundamental or technical analysis can predict the future, both methods have flaws. Past performance is no guarantee of future outcomes. Our Point & Figure charts are provided by our good friends at Dorsey Wright & Associates
