10 commandments of retirement planning

From Yahoo Finance:

“When it comes to retirement planning, sooner is always better than later.

Consider this illustration in the importance of time in retirement planning: a 25-year-old who saves $5,000 every year for 40 years will retire with nearly $1 million, assuming a 7 percent rate of return. A 35-year-old who begins saving $5,000 annually will turn 65 with around $472,000.

To get close to $1 million in 30 years rather than 40, the 35-year-old would have to save twice as much as her younger counterpart.

Consistent saving as early as possible is key, but other factors will contribute to the success of your retirement plan. To ensure that you arrive at the promised land of retirement flush with cash, incorporate these 10 simple guidelines into your financial planning.”

Find out what they are at:

http://finance.yahoo.com/news/10-commandments-retirement-planning-070053486.html

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About UWF Center on Aging

The Center on Aging at the University of West Florida was established in the Fall of 2010 when the School of Psychological and Behavioral Sciences faculty along with assistance from Sponsored Research submitted a grant to the State University System Board of Governors in support of aging initiatives for Northwest Florida. Its mission is to improve the quality of life of aging adults through the application of science to address challenges associated with aging and to promote healthy aging, with an emphasis on prevention. This will be accomplished through inter-disciplinary and inter-professional efforts of basic and applied research, consultation, and partnerships with community agencies. Education and training, direct services to the aging population, and public awareness and understanding of the contributions and needs of elders will be primary objectives.
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