When planning for the future, individuals, many times with the help of their advisors, create financial plans that incorporate a wide range of objectives such as the purchase of a new home, saving for retirement, funding college expenses, etc. The achievement of these objectives is highly predicated on two basic principles:
1) The simple exercise of saving. - - - Although not all objectives in life are financial, those that do revolve around finances will not be achieved unless funds are set aside to meet the specific goal.
2) The growth of saved assets. - - - This is especially important for longer-term financial objectives where the “power of compounding” can be significant... Read more >