Brewing your own coffee at home rather than buying a cup of joe can help build your nest egg. You’d likely save 3 bucks a day.
Caffeinate Your Retirement In 4 Steps
Investing for retirement is all about keeping things simple.
Here is a simple guide that can help you think about an investing game plan. It’s an easy way to caffeinate your retirement in 4 steps:
Step 1. Brew your own coffee = annual savings of $1,100.
Step 2. Invest $1,100 in a low-cost S&P 500 index fund.
Step 3: Invest your monthly savings ($91.66) the same way.
Step 4. Repeat for 30 years.
With an annual historical compounded return of 10%, in 30 years you’ll have $200k. Talk about a caffeinated retirement!
Here’s a simple chart made from www.investor.gov:
If you are new to personal finance, make sure to learn about the importance of an emergency fund. You can learn about it in my post, the emergency fund is the foundation of personal finance.
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