What? Me, retire? Those days are eons away!         

What’s the problem with retirement planning? Twenty, 30- and 40-year-olds think they’ll never reach that ripe    old age, but those are stages in life when anyone can hope to get rich by investing a little money every month.

Why don’t more of us put small amounts away early on    in our careers? The word retirement gets in the way. It sounds so far in the future that we can’t imagine it will ever come. We put off saving for later. Replace retirement planning with investing for wealth and the picture changes.


Start investing as soon as possible                                                                                                                               

The funny thing about money is the longer you save it,   the more it grows. If a young person invests as little as $25  per paycheck, he/she could end up with a fortune. Small amounts add up to big bucks over the years.                                                                                                                                                                                        

Putting your money into interest income, such as CDs (Certificates of Deposit), money market or savings accounts, earns modest profits based on the length of time you leave it there. The longer you let your money untouched, the more wealth it generates for you. As your balance gets bigger, compound interest kicks in. Your interest starts earning interest, too!


Learn how to invest wisely                                                                                                                                                

Money can grow even faster if you invest it in profitable companies. That means you will be a shareholder, or     part owner.  If you buy stock in promising businesses, or invest in mutual funds made up of many different kinds      of organizations, the payback can be much better than minimal interest.

Of course, there’s some risk involved. If companies you own do poorly or fail, you will, too. However, if you select    a variety of good businesses to invest in, your rewards could be great. You can buy shares at low prices and sell at higher ones. You can earn both dividends and interest, and benefit from bonuses in good years. You might even be lucky enough to get in on an occasional stock split, doubling or tripling the number of shares you own.

Each type of investment does different things for your financial well-being. You don’t have to wait until retirement to cash in. A financial planner can tell you how to save for emergencies, education, vacations, unexpected layoffs, home purchases, and other big-ticket items while working your way to retirement.


Ask a financial advisor for help                                                                                                                  

“Where do I start?” You wonder. “I don’t know much about investing,” you say. A certified financial planner can help you decide how much you should set aside monthly and where you should put it. No matter your age, start now and watch your money grow. For expert advice, contact Ronald Van Surksum: rvansurksum@aamllc.com



Manage Your Money is provided by Advanced Asset Management LLC                                                                                      Ronald Van Surksum, CFP                   4555 Wilson Ave SW – Suite 2           Grandville, MI 49418                     *For permission to reprint:                                                                                                                                            rvansurksum@aamllc.com                   P: (616) 531-5220                               C: (616) 450-8439                                ask@cameo100.com