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Retirement Savings Made Easy

Posted On: October 19, 2018 by Bank of Blue Valley in: Retirement, Save Money, Savings

When you are in the early stage of your career, there’s usually lots of bills that add up. Things such as rent, student loans or car insurance can truly wipe out your bank account. We want to make sure you avoid excess financial stress, which is why we’re offering four simple strategies on how to start saving early for retirement. Start small early on - The longer your money is invested, the more you can benefit from compounding. Compounding can turn small amounts of money into larger sums; it’s where you earn interest on the money you save and on the interest that money earns. It is best to start early, because the money you start to save will build up. Putting a small amount of money away can help establish a good savings habit -- consistency is better than quantity early on! Spend wisely -  Create a budget for yourself so you can be better aware of your finances. At a younger age, you may think you have all of your spending under control, but seeing a breakdown...