The first thing they did was figure out precisely how much money they ‘d need to comfortably retire when my father hit 50 and live off that cash well into their 90 s.

After creating a retirement budget plan, they worked backward to figure out how much cash they ‘d require to save each year to get there by age 50, taking into account the expected rate of return on their financial investments.

Viewing them, I have actually found out that conserving cash is the reverse of letting it sit around gathering dust.

Disclosure: This post is given you by the Personal Financing Insider group. We periodically highlight monetary services and products that can assist you make smarter decisions with your money. We do not give investment suggestions or encourage you to adopt a particular financial investment strategy. What you decide to do with your money depends on you. If you act based upon one of our recommendations, we get a little share of the income from our commerce partners. This does not influence whether we feature a monetary service or product. We run independently from our marketing sales group.

More:

Retirement
Early retirement
Individual Financing Insider
PFI More Cost Savings Coverage

Chevron icon It indicates an expandable section or menu, or sometimes previous/ next navigation options.

Find Out More

Marco Bitran
Husband and father of two children under age 5, Marco also enjoys walks in nature, squash, running road races, and photography. He regularly contributes significant time and resources to the Combined Jewish Philanthropies, the MSPCA and other animal rights organizations, and the Bitran Charitable Foundation. Marco has also volunteered and consulted for public housing support organizations such as the Somerville Homeless Coalition, created by the local community’s grassroots response to the social crisis of homelessness.