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There are thousands of plans available on the internet for you to follow. Of course there are a lot of vulchers on the internet that will try to take advantage of people who are trying to save money.

They say "Come for the free meeting", but these are 30 minutes and then you need to pay to stay for the remainder of the meeting.

But rest assured I have a link to the best one ever made (and it is free). Dave Ramsey has a 7 step process that he calls Baby Steps. his plan is free. it is all over the internet, youtube, twitter, IG and podcast. You can listen and watch for hours on end and are able to get and follow the plan by way of these free items.

Once you have gotten in to the plan and started saving. If you want to kick it in to overdrive there is an option to go to a class that will help encourage you to get in full speed. But you don't need to do that. You can hear the whole plan via podcasts or youtube.

I have personally done these Baby Steps and they are easy to do and understand.  If you are a podcast person you can download the podcast daily and listen to the 3 hour radio show in about 1.5 hours without commercials.

More to come on plan (how to listen, how to get motivated, the plan itself) but here are some basic steps to get started.

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One of the LARGEST factors in retirement savings is compounded interest. This is where the money you saved earns interest and then you add the new money in to it. The next year all that money earns interest again, and again, and again.

With the quick example we just to the left. After 5 years you invested $5,810 but at a 10% rate of return you will have $7,094.13.

Just hang in there with me for one more minute. however, after 30 years you have put in $34,860 but the balance in the account will be $191,142.05. That is growth of  $156,282.05 in interest. The longer you have it in there the more you make.

Invested = Balance
35 years  $40,670 = $314,930.32
40 years $46,480 = $514,292.55
45 years $ 52,290 = $835,367.42

The biggest benefit to start saving early is that the longer you stay invested the more time you have to increase the balance. As an example in the last 5 years shown above you earn almost $320,000 in interest at a rate of return at 10%. If you get a 12% average return this will be multiplied SIGNIFICANTLY.

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There is a significant movement in the united States today in multiple generations ( Baby boomers, X, and Millennials) where you have people paying off all their consumer debt (credit cards, cars, house) as fast as possible in order to eliminate paying interest to a bank or credit card.

Think about this. The average american family pays $1,162 in annual interest to credit cards according to Nerdwallet.  What can you do with an extra $1,162 per year in cash.
If you save it for retirement, it can add up quickly. The below is even if you just put it into a checking account and you received no interest.

Year 1 = $1,162   Year 2 = $2,324
Year 3 = $3,486 Year 4 = $4,648
Year 5 = $5,810

Rathner, Sara. “NerdWallet's 2019 Household Debt Study.” NerdWallet, www.nerdwallet.com/blog/average-credit-card-debt-household/.

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It may sound to simple, but getting on a budget is the easiest way to get control of your money.

You may hear people say "But I don't want to be limited by a budget". You're truly not limited as YOU are the one who creates the budget and YOU decide where the money goes....No one else.

The primary purpose of the simple budget is for YOU to be able to tell your money where it will be going.

Once you have created the budget then you will feel like you have received a raise on your normal paychecks. Because you are telling your money where to go. It has a job to do (save, pay off debt, etc...)

When every dollar is assigned to do a job and you follow the plan. That job can be completed faster than if your money sits in a checking account and you spend it freely without thinking about it.

Goals will guide you to the finish line.

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It is never to late to start saving for retirement. It doesn't matter if you are 16 or 66. Everyone can start saving NOW and have a better life in the future.

You can start putting money in to a savings account or retirements account.

Of course there will be a big difference on how you save and what kinds of savings instruments you would use at age 66 versus age 16.

Don't believe me?
This people do...
Dave Ramsey
Market Watch
University of Norte Dame
Choosetosave.org
New Pittsburgh Courier
Associated Bank