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Isn't it great that every year, at this exact time, we get to start over with a brand-new year, brand-new goals and brand-new opportunities? That's why we're kicking off 2011 with a challenge—an investing challenge!
We're all looking ahead to the day we retire. Get serious about investing now, and you can look forward to that day with confidence! In less than two years, the S&P 500 has pumped out a 75% return at a time when most people were too afraid of the market to invest. Use the market's ups and downs to build wealth for your retirement and a legacy for your family.
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The $500 Challenge
If you're out of debt and have an emergency fund, make a commitment this year to invest at least $500 a month just for retirement (that's less than $20 a day). If you can afford more, then do it. Make 2011 the year you capitalize on any gains in the stock market.
If you already have a retirement account, try increasing the amount you invest by $500 each month. It's not hard to find an extra few hundred bucks for investing if you follow Dave's Baby Steps and are on Step 4.
Reap The Rewards
Let's assume you're 35 years old. If you started our challenge today, you could end up with a $1.76 million retirement nest egg! And only $180,000 of that is from your pocket—the rest is interest earned!
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If you're working Baby Steps 1–3, this is still your investing challenge! Work those Baby Steps with gazelle intensity so you can get to the good part—investing for your future!
If you're out of debt and have an emergency fund of three to six months of expenses, then there's nothing holding you back. It's time to invest!
Put your plan in action by talking with an investing professional who will help you set up your investing accounts and choose your mutual funds. For investing advice you can trust, contact one of Dave's Endorsed Local Providers. Your ELP is an experienced investing expert who will work with you to meet your investing goals. Contact your ELP today!