Health & Fitness
#12 of "21 Critical Retirement Questions Answered" one at a time by Gene Offredi CFP© RFC
Can small adjustments in my spending and saving habits actually make a big difference?
Retirement Saving Strategies And Rules
Q #12: “Can small adjustments in my spending and saving habits actually make a big difference?”
Yes! If you can earn an extra $100 per week - perhaps by consulting, teaching, or freelancing -- and you trim another $100 per week from your spending habits, you’ll save an extra $10,400 per year. Invested at just 5%, that $10,400 grows into $16,470 in 10 years or $27,126 in 20 years.
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