Financial Coaching Blog,  Investing In Retirement

Money doesn’t grow ON trees

However, money grows LIKE trees.

I believe this is my first comparison for money with nature, so hear me out. You’ve heard the saying, “money doesn’t grow on trees”, probably from your parents at some point in your life. Undoubtedly, this is absolutely true. Wouldn’t that be something if you could go in your backyard and pluck some $100 bills off the limbs like picking apples?

You might know where I’m going with this…

Think about some of the most beautiful trees you’ve ever seen. They are probably BIG, right? The Angel Oak near Charleston, South Carolina immediately comes to mind. Bigger the better right? Also, the bigger the tree, the older…correct? What about those giant Sequoias/Redwoods out in California? OLD & BIG. Their growth took TIME.

You know what else takes time?

Building wealth. Time in the market allows your funds to see a steady growth. What else helps trees grow? Water. What helps your funds grow? More contributions. The more you contribute and the earlier you start saving and investing allows your retirement to GROW. It takes TIME.

Years later, you can look at your retirement account like you admire those large older trees….

It doesn’t take much to start, but don’t wait. Your first $100k is the biggest hurdle, but once you hit that number, then it becomes automatic. If you are in your 20s, you should be putting as much away as possible. I started saving 2% to retirement at age 22, by age 27 I was saving 8%. My plan is to set our retirements to 10% for the next 25 years. Find a percentage that works for you!

Some of you might be thinking…

But how can I save for retirement with so little income?

Side hustles, seek new jobs with higher income, live minimally, move to a low cost of living area, and last but not least, PAY OFF ALL DEBTS and avoid new debt like the plague!

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