After graduating from college and starting to work for a good organization, you may get the feeling that this is the most exciting phase of your life. You will take advantage of numerous opportunities and overcome several obstacles to make your mark in the profession you are entering. However, if you stop to think for a while your retirement may not be so far away as you may assume. This is why you need to start taking responsibility of finances by saving money and investing it to plan for such an eventuality. This will give you a peace of mind in the future.
Barry Bulakites is one of America’s most eminent motivational speakers who expresses his views of the current economic conditions in the country in various public forums. A number of television networks also invite him to discuss such issues. This marketing graduate from Western New England College and the London School of Business & Finance is also the President of Table Bay Financial Network, Inc and its principal distribution officer. This distinguished financial advisor specializes in helping his customers search for effective investment avenues to plough their money into for their retirement. His clientele includes prominent corporate enterprises, popular celebrities from world of pop music and sports personalities.
This financial advisor says although you may be very busy with your life at this stage, it is important for you to understand there are critical advantages of saving and investing to plan for your retirement:
Managing your finances
He explains that as you want to become independent and handle your own affairs, it is important for to take responsibility of your own money matters. This implies learning to formulate and implement a budget that helps you keep aside a portion of your monthly paycheck after meeting all necessary expenses and sinking it in a lucrative investment fund. This enables you to fulfill all your short-term and long-term financial goals.
Time is on your side
Being a young person, you are in a position to save and invest enough money to fulfill your long-term financial goals such as retirement, if you start taking the initiative now. As such a phase will not come until you attain the age of 65 years or more, you have plenty of time to save small amounts of money from your current salary and invest the amount in a lucrative fund that yields a stable income in the near future.
Taking Advantage of workplace retirement scheme
If the organization you work for offers you a workplace retirement scheme like 401(k), it is prudent on your part to participate in it. This is because the amount that your employer deducts from your monthly paycheck makes saving and investing for your retirement easier. Moreover, this person has to deposit an equal and matching amount of money that you contribute to this fund.
Barry Bulakites goes on say that even if you have a student loan to repay, your financial responsibilities are much less that person who has a wife and children. This implies you are in a more favorable position to save and invest enough money to lead a financially secure retirement.