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Episode 2814:
Christine Sato, in collaboration with JenHayes.Me, explains how to save money and invest simultaneously, even on a low income. She outlines strategies for building savings for short-term needs and investing for long-term goals, emphasizing the importance of automatic transfers, taking advantage of employer 401(k) matches, and starting early to maximize compound interest.
Read along with the original article(s) here: https://www.jenhayes.me//save-money-still-invest/
Quotes to ponder:
"Saving usually means putting your money into a savings account in a bank for easy access."
"The stock market, on the other hand, while unpredictable in the short-term, generally does better than cash over long periods of time and generates greater returns on your money."
"Putting aside $25 a week in an IRA, assuming an average return on your investment dollars of 8 percent over 40 years, will result in investments worth about $350,000 when it’s time to retire."
Episode references:
Investopedia - Roth IRA: https://www.investopedia.com/terms/r/rothira.asp
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