Are you contributing to your companies 401K (or 403B)? If you're are, you are potentially setting yourself up for a beautiful retirement. Did you know if you invest $1,000 today at a 10% return, you will have over $88,000 in 45 years. It's called the :"time value of money". It's the foundation to becoming wealthy. Sadly, they don't teach this in public schools but it works. Google it.

Time Value of Money teaches us that the sooner you start investing, the more your money will grow over time. So have you started contributing to your retirement plan at work? You can't afford it due to all your financial responsibilities? You can't afford NOT to save for retirement. You don't want to be broke during the time of your life when you can no longer work due to age or illness. Remember our $1000 over 45 years example at the beginning of this article? Imagine if you saved $1000 a year, EVERY year for 45 years at a 10% return? You would have close to $800,000! You don't have to save a thousand dollars per year. Save whatever you can afford. Every dollar counts. Just remember the sooner the better.

Now, you may be asking yourself "the banks only pay 1 to 2 percent on savings". How do I get a 10 percent return on my money"? Great question. We will cover that on a future post.