Transcripts

Bruce Helmer:
Because people are retiring earlier than ever before yet they're living longer and the biggest challenge they face is running out of money before they run out of breath.

Financial consultant, Bruce Helmer, author of the book, Money & The People You Love says if you haven't started yet, start today and begin saving some money.

As you probably know, it's the American way to live for the moment and what we tell people is, " No, you have to commit to a certain amount of investment dollars per month first and then live on the rest."

And secondly, Bruce says start with any amount you can afford.

People think if all I have is fifty bucks a month or a hundred bucks a month it doesn't amount to anything. But if you do that consistently for a long period of time and invest it wisely over years it becomes a significant amount of money.

And Bruce says it's never too late to start and if your employer has a 401K plan…

Participate in your company plan at least to the extent that you can get the maximum matching contribution. Then after you've done that if you can max out four thousand dollars into a Roth IRA. Frankly Mike, if most people just did those two things and nothing else they'd be ahead of most of their chronological aged peers and be well on their way to financial success.

At somethingyoushouldknow.net I'm Mike Carruthers and that's Something You Should Know.