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Franklinton, LA | There are numerous ways to invest and save for the future. I am going to suggest looking closely at management fees when selecting an investment. For example, do not select an investment with a front load, backend load or management fees over 1%. Management fees of less than 0.50% would be even better. For the past several decades inflation has been about 3% and the stock market has returned about 7%. Your real profit is about 7 - 3 or 4%. The difference between a 0.50, 1.00 or 1.50% management fee is a big chunk of your real profit.
For several decades retirement benefits have been a percentage of your highest 3 or 5 years of income. In today's world retirement benefits are based on what you save early in your career. If your investments earn an average of 7.2% they will double in value every 10 years. The money you save before age 25 will be worth 16X at age 65. The money you save before age 45 will be worth 4X at age 65. | |
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Investing 401/IRA help.
