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Start early: Building your Retirement fund

Postby Tendz » 09 Jul 2024, 11:28

By starting early and consistently contributing to a retirement fund, you can take advantage of compound interest and grow your savings significantly over time. Make it a priority to set aside a portion of your income each month towards your retirement fund, even if it's just a small amount. Your future self will thank you for taking this important step towards financial stability.
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Re: Start early: Building your Retirement fund

Postby Treborika » 09 Jul 2024, 16:51

While the retirement fund is indeed very important, most people don't embrace that for sure because they are never interested in such matters.
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Re: Start early: Building your Retirement fund

Postby nela13 » 09 Jul 2024, 16:58

We have a retirement fund, but I don't transfer money every month, usually in December we put a good amount of money in that account as this will help us with taxes as well. I think We should have started earlier but we still have some years ahead before our retirement.
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Re: Start early: Building your Retirement fund

Postby ptrikha21 » 20 Jul 2024, 19:34

Some very vital tips. However, I think I started a bit late on this.
Yet, with right effort, I am now trying to cover up and do the best I can.
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Re: Start early: Building your Retirement fund

Postby Pousinha » 23 Jul 2024, 05:53

I'm doing investments on a secondary governmental retirement plan (as the primary could not be granted any more as it's today, due to the next Social Security reform of my country, that is likely to take place in 2027, as our main economists are predicting) since the beginning of 2023, when the government of my country started to offer such a safety valve.
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Re: Start early: Building your Retirement fund

Postby Carson20t » 23 Jul 2024, 06:47

That is very true to build to financial freedom and see tangible amount in your savings then it usually takes about 10 years and Compounding is what makes it easy because for mot of us it is not easy to get a Lump sum but we can rely on compounding a certain percentage until we get there.
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Re: Start early: Building your Retirement fund

Postby Pousinha » 30 Jul 2024, 15:28

I'm wondering how southern Europe residents can manage to build a retirement fund, as the investment's interests there score near to zero. And the EU Parliament is working on a project to raise the retirement age between 70 and 72 years old among all the countries belonging to the Union.
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Re: Start early: Building your Retirement fund

Postby augusta » 28 Aug 2024, 05:35

Retirement can be a challenging time it is good to plan how you would utilise your money before hand
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