Year: 2021

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What is the Accumulation Phase of Retirement Savings?

May 6, 2021 admin Comments Off on What is the Accumulation Phase of Retirement Savings?

From the moment you make your first retirement contribution, you’ve entered the accumulation phase of your wealth-building journey. Whether you start at 20, 30, 40 or later, the foreseeable future of your working life will be about socking away money so you can retire. How you save is important—but what matters most is that you are saving.
Understanding the accumulation phase is key in maximizing your approach to retirement. You need to understand why you’re saving, as well as how to save intelligently. This involves goal-setting and education about different investment vehicles. Plus, you’ll need to understand compound interest as …read more […]