Iheard this awesome thought last week and needed to share 🫶 "THEDAY I START EARNING,IS THE DAY I START PLANNING FOR RETIREMENT".
📈When it comes to COMPOUNDING: the earlier, the better.
Which21year oldwouldn't want an extra $890k in retirement? This is ON TOP OF what they earnfrom employment over their working life.
Thisgraph shows it perfectly.
-Result: $890,000 additional superannuation at retirement (nominal dollars, notinflation-adjusted, i.e. it's "worth less in future dollars").
-Assumptions: $50/week additional contribution, ages 21 to 67, 7% p.a. averagereturn, compounding.
Seehow compounding really ramps up over time?
Thisis general advice and not personal advice. Superannuation is something we talkto young people about as part of our financial literacy education programs witha mission to impact the next generation.
Truly'sadvice, financial services and property strategies are complimentary. We dothis for the best interests of our clientsand we relentlessly strive to serve as the best mortgage brokers in Australiawith uncommon excellence!
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