The best number for retirement planning is five—for the five letters in the word “early”. This is by far the best word that can make or break your retirement dreams. The explanation is simple enough. By stashing your money for a longer period of time, it increases the amount of time you save money and receive compounded growth.
However, no matter how old you are, now is the best time to begin, and starting with the end in mind is a useful tool to keep you focused. How do you see yourself lounging the days away when your demanding work days are over for good? Imagine your lifestyle – where do you live? How much are you spending each month? Creating a plan built to support this vision is the ultimate goal.