Maluma’s Golden Years on Saving For Retirement

Maluma’s got that million dollar smile 😁 and if you start saving for retirement in your 20s, you could get your smile to… the hundreds of thousands.😃 With a ROTH IRA, even small contributions can grow to be a large retirement fund💰 with time and something called compound interest. 🏋️‍♀️

 

Compound interest, according to @investopedia, is interest based on both the initial and accumulated interest. 📈Like building up both 🎶 “Pretty Boy” and 🎶 “Dirty Boy” at the same time. So your dinero will grow at a faster rate💸 than with just interest on the principal amount. Faster than Maluma sees thru the IG lies in Hawái?🌺 Impossible.

 

Roth IRAs make sense for younger people because they tend to be in a lower tax bracket now than in retirement 🙌 You also won’t owe taxes on any earnings in the account or qualified distributions. This could mean decades of tax-free growth and tax-free income during retirement.🤑 That’ll bring out Maluma’s smile rapidísimo.💨

 

So que tú haces?🙆 Don’t be like Maluma in Sobrio singing 🎶que no son horas🎶 porque it IS the time! So when should you start saving? Start saving ahora!

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