Financial Planning Services
In a recent Gallup poll, 60% of those surveyed said they worried about their financial future.
There are a few simple steps you can take to help reduce your worries:
The Magic of Compounding!
If you could have one of the following as your pay for thirty days' work, which would you choose?
(A) $10,000, or (B) a penny the first day, two cents the second day, four cents the third day, eight cents the fourth day, and so on, with each day doubling on out to thirty days.
The $10,000 sounds very attractive, but the fact is that the penny doubled each day for thirty days adds up to over five million dollars. Of course, that is 100% interest compounded daily, a rate not available to most of us working folk. Nevertheless, this example shows you the power of compounding on your investment earnings.
Do you know how much you need to set aside to fund a college education for your child?
How much must you save each month for your retirement?
What will your Individual Retirement Account (IRA) be worth when you get ready to start drawing on it?
We can help you with the answers to these questions, please email us.