Quote Of The Week: The Penalty For Procrastination

“Here’s the penalty for procrastinating  …  If you had started saving for retirement in your twenties, you would have had to carve out 13% of your salary every year to replace your income in retirement, according to an analysis by T. Rowe Price. Now, at 45, you’ll need to sock away 29% of your salary to catch up. (And if you put it off until age 55, you’ll need to save 43%).”

How to Retire Rich: 3 Smart Steps at Ages 40-55, Sandy Block and Jane Bennett Clark, Kiplinger’s Personal Finance magazine, October 2012

 

About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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