Billy Florence - Save Big For Retirement
I recently read an article with some tips on how to save some big money for retirement. There were just a few simple ideas. The article sort of "put down" the method of giving up your daily Starbucks and saving that money for retirement. While I do understand their point of view, I think it is wise to still consider what little choices can make over your lifetime. $5 here and $5 there can make a big impact if saved instead. But this article did offer a few tips which I agree can pay off big time in the long run...
You are probably going to have to give up something today for a shot at a better tomorrow. But by going about it the right way, you can often find tradeoffs that will allow you to sock away real money while still leading a rich, full life.
Drive less expensive cars during your lifetime: $180,000
Consider your car, for instance. While there's a certain pleasure in zipping around in a shiny StatusMobile, it's not worth sacrificing your retirement security for that thrill - especially when a lower sticker price doesn't have to mean giving up a lot in car comfort, looks or performance.
Say you're shopping for a moderately priced sedan. For $30,000 you can get a 2007 Acura TSX, a four-door number with a 205-horsepower engine, leather seats and a sunroof.
Or, if you're willing to sit on cloth, do without a sunroof and give up 39 hp, you could go with a 2007 Honda Accord LX, a comparable car that sells for $21,000.
Make that "compromise" several times over the course of a career and you could end up with an extra 180 grand when you retire.
I agree with this wisdom. People can save so much money by being wise about the cars they can drive. They can especially save a lot if they decide to always drive used cards versus new cars.
This information was found on www.money.com.
© 2007 Florence News reprint permission to Billy Florence Team Dream Chasers site.
You are probably going to have to give up something today for a shot at a better tomorrow. But by going about it the right way, you can often find tradeoffs that will allow you to sock away real money while still leading a rich, full life.
Drive less expensive cars during your lifetime: $180,000
Consider your car, for instance. While there's a certain pleasure in zipping around in a shiny StatusMobile, it's not worth sacrificing your retirement security for that thrill - especially when a lower sticker price doesn't have to mean giving up a lot in car comfort, looks or performance.
Say you're shopping for a moderately priced sedan. For $30,000 you can get a 2007 Acura TSX, a four-door number with a 205-horsepower engine, leather seats and a sunroof.
Or, if you're willing to sit on cloth, do without a sunroof and give up 39 hp, you could go with a 2007 Honda Accord LX, a comparable car that sells for $21,000.
Make that "compromise" several times over the course of a career and you could end up with an extra 180 grand when you retire.
I agree with this wisdom. People can save so much money by being wise about the cars they can drive. They can especially save a lot if they decide to always drive used cards versus new cars.
This information was found on www.money.com.
© 2007 Florence News reprint permission to Billy Florence Team Dream Chasers site.
Labels: Billy Florence, Leadership Billy Florence
posted by Billy Florence at
3:47 PM
