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US World News - 3 Smart Money Moves to Make if You're Not Attending College

Matt Hylland was recently quoted in the US News and World Report in an article written for recent high school graduates who are entering the workforce instead of going to college. 

However, the important point of the article is the same whether you are a recent high school grad, or a recent college grad, and entering the workforce. Use your most valuable asset to your advantage - Time.

Getting a head start on beginning to save and invest early gives you a huge advantage over those that wait until later. Saving a little bit now can often be much more beneficial to saving a lot later!

For example, How much would you have to save each year to end up with a retirement portfolio of $500,000 at retirement if you start saving at age 25? What if you wait and start at age 35? Or age 45?

 

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Start saving at age 25 and you need to save 75% less than the person who starts saving at age 45!

We have a compound interest calculator on our blog where you can play with these numbers yourself.

 

From the article:

Start saving early because you get even more time for compound interest to work for you. Even if your income is lower, being able to save some money early on can give you an advantage over the long run,” Hylland says.

You can read the rest of the article on the US News and World Report site, here: https://money.usnews.com/money/personal-finance/family-finance/articles/2018-05-18/3-smart-money-moves-to-make-if-youre-not-attending-college

 

For more, also check out one of the most popular articles on our blog: Not Investing in an IRA This Year Could Cost You $42,000

Matt Hylland