This month’s 2 minute financial focus is on “The Cost of Procrastination.”
If you’re like me, and probably 90% of other Americans, you really struggle with procrastination. Why do today what you can put off until tomorrow, right!
That thought process may be alright with mowing the yard, or going to the grocery store, or even cleaning the gutters, but it may really be costing you major in planning for your retirement.
Let me give you an example.
Here’s a story of two people, Diane and David. Diane gets enrolled into the retirement plan right away. And David waits for 10 years before he gets enrolled. Even though Diane has only save $25k more over the first 10 years, at retirement she has almost $200k more.
This is the value of starting to save early. This example works whether you’re saving for retirement or saving for a future financial goal. Just get stated saving as early as you can.
So procrastinate on cleaning the gutters, but don’t procrastinate on saving for your future financial freedom!
I hope you’re enjoyed this 2Minute Financial Focus. To learn more go to TheFocusedBook.com, you can download a free copy of my book FOCUSED, The Financial Freedom Formula.