In the scope of retirement planning, there is no time that is too late to start the process. However, as a top financial consultant like Matt Dixon knows, the earlier an individual starts to plan for retirement, the more likely it is she or he will be able to retire when they want with the money they need.
Finances in Your Twenties
Most twenty-year-olds in Greenville, SC, are just starting their career. They may have completed a degree program and are venturing out in their first job in their area of specialization and expertise. This is also when many individuals get married, buy a first home, have children, and take on all associated financial responsibilities.
It is a common misconception that paying down student debt, paying off the home and the vehicles, and setting up savings accounts for college education for the kids should be a priority. At the same time, as Matt Dixon helps young adults see, this is also ideal for planning for retirement.
Working with a top financial consultant like Matt Dixon provides people of any age with a clear, workable solution for retirement planning. The younger a person is when they start to save, the longer the portfolio has to build interest. It is also a time to consider higher-risk with greater-reward types of investments, which can quickly accumulate thanks to compounding interest.
Early retirement planning means putting smaller amounts aside, which helps in reducing taxes while building savings. This is possible for individuals and couples in Greenville, SC, even if they have other financial obligations to consider.