The article underscores the significance of beginning pension contributions as early as possible, reinforcing the idea that while the ideal start time was yesterday, today's actions are still crucial. It highlights the mathematical advantages of investing early, noting that increased contributions and exploring secondary investment options can help late starters effectively secure their retirement objectives. By understanding and applying these principles, individuals can enhance their financial preparedness for retirement, despite starting later than their peers.
When it comes to starting a pension, the old adage holds true: The best time to start was yesterday, but the second-best time is today.
It's firmly rooted in the mathematics of long-term investing, emphasizing the importance of maximising contributions to reach retirement goals.
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