We all know that saving money is an important financial goal. In this brief video, Fool contributor Chuck Saletta spells out three of the most important reasons why saving is such a critical part of each and every financial plan. Those key reasons are:
- You have to save for your money to compound for you.
- Having savings gives you flexibility when you need it.
- The more you save, the less you need to save.
How to get even more income during retirement
Social Security plays a key role in your financial security, but it's likely not enough to cover your total costs of living in retirement. In our brand-new free report, our retirement experts give their insight on a simple strategy to take advantage of a little-known IRS rule that can help ensure a more comfortable retirement for you and your family. Click here to get your copy today.
What 20 years of saving/investing can get you
|Monthly Savings||0% Annual Returns||3% Annual Returns||6% Annual Returns||9% Annual Returns|