John Labunski has found that over the years, there is probably nothing more stressful than money troubles. Bad money habits can take a toll on one’s health, whether it’s bills, credit card debt or bad investing. Studies have actually shown that those people who save wisely suffer less stress and therefore have better health. You don’t have to make a ton of money to save wisely. According to investment counselors, finding ways to save regularly not only helps provide financial security but may also contribute to keeping people healthy long enough to enjoy their retirement. Here are some ways to start saving today.
Probably the easiest way to save for the future is a 401(k) plan. Many of them now incorporate features like auto enrollment, and auto escalation of contributions. Most would be savers like these features and would enroll in plans that automatically contributed 6% of their pay. The hardest part of saving is allocating those funds every month, but the earlier you get started, the better. For example, let’s say you make $41,000 a year, and saved 8% of pay. It would be necessary for you to begin saving at age 20, so by age 65 your retirement income would be $29,000 a year.
John Labunski has worked with many newbie investors and helped them save for the future. He began first by helping his mother resolve her own financial crisis after following the advice of a well-known financial investment advisor. It was then that he knew he wanted to start his own company and help people plan for their retirement and show them how to invest wisely.