Retirement Savings
Shoot two birds with one stone! Increase your net worth by saving for your retirement early on. Linking these two goals together can help you more in the long run, especially by providing the motivation when it comes to putting aside money instead of spending it on frivolous purchases.
It’s a never-ending cycle. The more you save the better you feel about saving while also reminding yourself of how much your net worth will increase. The more you think about wanting to increase your net worth, the more you’ll set aside.
It’s important to use the right mechanisms, too. For example, try to max out contributions for 401(ks) and traditional IRAs, two tax-deferred accounts that are made specifically for investing in your future- aka, you retirement.
