Start Now. Time can be an investor’s best friend. By investing $500 a month at age 40, and assuming 8% growth, one could have $465,000 by age 65. By waiting until age 45, that amount decreases to $300,000. That’s a 38% penalty for waiting five years.

Re-Visit Your Will
Have you reviewed your will lately? If it was written many years ago it might not accurately reflect today’s wishes. With the rapid increase in the value of retirement plans, stocks and mutual funds, many people should take inventory of their assets and then check their wills to see if they still want their estate distributed in the dollar amounts or percentage amounts originally stipulated. If your will leaves a specific dollar amount to heirs, that dollar amount may now be rather puny compared to your total net worth. Also if your will says you leave the “remainder” of...Read More