Don’t Sabotage Your Retirement

By Renee Michel, MBA and Joe Sweeney, CFP®
Financial Advisors at Asset Management Group

We write a lot about the importance of maintaining a disciplined approach to saving and planning as you pursue your long-term retirement goals. That’s because excuses like the following can quickly sabotage your efforts: 

“I can’t afford to save now, but I’ll definitely get serious in the future.” While it’s never too late to start, the earlier you begin saving, the sooner the benefits of compounding kick in.  


Look At What Could Happen If You Invest $2,000 Annually Starting At Age 25:

*Assuming an annual return of 8%. This is a hypothetical return.


At age 65 you would have = $630,381

At age 70 you would have = $951,417


What If You Wait To Start Saving Until Age 40?

*Assuming the save annual contribution of $2000 and an annual return of 8%.


At age 65 you would have = $146,211

At age 70 you would have = $226,566

“If I fall behind, I’ll make up for it with higher investment returns.” While an aggressive approach may result in potentially higher returns, your investments will also be subject to greater volatility and losses, which can undermine your strategy. 

“I don’t need a financial or retirement income plan.” Without a formal plan in place, it’s nearly impossible to determine when to retire, how much you’ll need or how much you can safely spend. 

Managing all the pieces of your financial life can be a challenging task. However, creating a financial plan can ease future decision making in an uncertain world. Having a well-laid, multi-decade plan can help you’re perspective on the right things.

The Financial Consultants of Asset Management Group are also Registered Representatives with and securities and advisory services are offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.

The LPL Financial Registered Representatives associated with this website may discuss and/or transact securities business only with residents of the following states: AZ, CA, CO, GA, HI, ID, IN, MA, ID, MA, MD, MN, MO, MI, MT, NC, NJ, NV, NY, OH, OR,OK, PA, SC, TN, TX, UT, VA, WA, WI, WY



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