Okay, folks. This may seem nuts, but it's true. When you think of a five year old, what comes to mind? I personally get visions of Play Do, a messy room and mounds of Lego's. My five year old boy is as normal as they come. But he recently taught me a secret on how to build a 401K.
His secret is so simple I missed it till recently. I realized that if I used it I could start building a 401K for my retirement. In fact I could start small and grow it over time. The Toddler's Secret doesn't require financial expertise or years of mutual fund experience.
One day I was writing an article and he walked out of his room.
"Dad, can I play on the computer?"
He plays this skateboard video game on our desktop. I told him he had to wait. I needed to finish my first writing session in peace. Seven to ten minutes later he came back. After asking the same question he returned to his room
The "Toddler's Secret" For Building a 401K
With a lot of people working hard to pay their bills, and often having no money left over for personal rewards, let alone substantial savings, putting extra money into savings can be a tough task to fulfil. However, it’s important to remember that even the tiniest amount — even if it’s $5 a month — will all eventually add up, and be better than nothing. Here are 4 tips to get you started on a better savings path. Get Out of Any Debt First There is no point planning to put money into your savings if you have a backlog of debt, no matter how small. Although any form of savings is a positive, it’s much better to use any extra money to clear debt in order to get straight with your finances and avoid paying extra due to interest charges. As soon as debt is cleared, the monthly amount you usually pay in minimum debt payments can then be a bonus for your savings pot. If any de 4 Tips for Increasing Your Personal Savings
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