Learn how to power-up the compound effect and see your savings for retirement grow exponentially. You can reap big rewards from a series of small consistent choices you make about saving money. Financial planning professionals Joe Anderson and Alan Clopine walk you through the benefits of the compound effect and how to make it work for your financial plan. They also give you tips on how to avoid the effect of negative compounding on your retirement goals. Once you get down the basics, they show you how to Supercharge the compounding effect and help make the most of your money for long-term financial success.
Schedule a free assessment with one of our experienced financial professionals, either online, or at one of our many financial planning offices around the country:[ Ссылка ]
Subscribe to our YouTube channel and stay tuned for the next episode of the Your Money, Your Wealth® TV show: [ Ссылка ]
Subscribe to the YourMoney, Your Wealth® podcast: [ Ссылка ]
Key Points:
0:00 Intro
1:27 Cup Of Joe Compound Effect
2:30 Retire at 65 with a million
3:45 Power-Up the Financial Compound Effect
4:30 Positive Compound Effect
5:25 Time: Compound Interest
7:10 Compound Interest Effect
8:40 Rate of Return: $10,000 Lump Sum Investment
11:45 Negative Compound Effect
13:10 Negative Compound Effect: Debt
16:30 401(k) Mistakes: Cashing Out
20:10 Supercharge: Compound Effect
21:50 Ask the Experts
IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor.
• Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. As rules and regulations change, content may become outdated.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
CFP® - The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation.
AIF® - Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.
CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period.
