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January
3, 2007:
Good News About Your Financial Future II
Interview
with Jonathan Pond, author of You
Can Do It
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Mike
Carruthers:
To
have a comfortable financial future doesn't take tons of money
- it takes some planning and a few simple strategies.
Jonathan Pond:
I mean the key issue to all of this is living beneath
your means and investing those savings wisely.
Financial expert
Jonathan Pond, and author of the book You
Can Do It ...
And starting
to live beneath your means, start small even if it's ten or
twenty dollars a week - there's plenty of opportunity later
on in life to increase that and then learn about investing so
you can be an above-average investor. Who wants to be an average
or below-average investor these days?
And Jonathan
says owning a home and paying off the mortgage as soon as possible
is also a key strategy.
Because with
the combination of a good size but not gargantuan savings portfolio
(could be 100 or 200 thousand dollars), that plus a home, plus
Social Security is going to buy you a pretty darn good retirement.
And if you delay retirement three years, you can increase your
income from Social Security and your savings by about 25%. Delaying
retirement, working part-time has an enormously positive impact
on your ultimate retirement income.
Why should you
consider delaying taking your Social Security benefits?
Every year you
delay Social Security beyond normal retirement age is an 8%
increase.
At somethingyoushouldknow.net
I'm Mike Carruthers and that's Something You Should Know.
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