Everyone's Talkin' Money Best Of - Crockpot Your Savings Strategy
All personal finance experts can agree on one thing – starting to save early will almost always help you reach your lifestyle goals quicker and with more ease than those who wait longer. When you think about your savings there are two ways you can save - the crockpot style or the microwave style.
Inspired by a recent industry article in Financial Planning Magazine, thinking about a crockpot for your savings strategy makes pretty good sense. With any crockpot recipe, the idea is simple. You gather all your ingredients ahead of time, throw them into the crockpot, turn it on low and slow for 6-8 hours, and then you have an almost always perfect meal sure to wow anyone.
When you crockpot your savings you're using the same methodology. You're saving little by little over time with consistency so whenever you reach the age you would like to quit working, you're investments and savings have spent some time "cooking together."
On This Podcast Episode:
- We'll chat about the crockpot method of savings
- Why a crockpot method might make more sense than microwaving your savings
- Let's talk about what you can and can't control with your savings
- Some guidelines to always keep in mind with savings
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