Did you know, the key to your investment is starting early. Don’t end up like you parents who left it all too late and are now forced to take high risks when nearing retirement or are having to save like crazy killing their lifestyle in the process.
Small amounts of money can make a massive difference in the long term so consider this:
If you put an additional $5 a day into your super fund through the course of your working career you would have an additional $219,000 when you decide to retire! Double it and you would be almost half a million dollars better off, that’s the beauty of compound interest.
Source: AMP Super Simulator
At age 21: $0 Super Balance
Retire at age 65: $65,000 Income
9% SGC: 7.25% return per annum
Investing is like eating an elephant… Stay with me here!
If you give yourself time, and take small bites it truly does get the job done.
Makes good sense, don’t you reckon?