Strangely enough, I’ve noticed over the past several months that every time I post anything related to finance or investing on Facebook or Twitter, nobody ever hits the ‘Like’ button or leaves any comments.
I read an article the other day that said if you put your money in a savings account, and you contribute $5,000 per year ($417/month), and the bank offers 3% annual return that compounds 4 times a year, after 40 years, you’ll have $387,095 saved for retirement. It went on to mention that if you waited (procrastinated) 5 years to get started, the difference in savings would be $77,041.
A lot of people will live paycheck to paycheck – which is fine – so do I – but it’s really important to at least save a little money on the side. Investing in high-yield blue chip dividend stocks is the way to go – especially when you’re in your 30’s and 40’s.