The $6,000 Investment Strategy That Could Transform Your Retirement
Written by Puja Tayal at The Motley Fool Canada
Retirement has become a financial stress rather than a long vacation everyone dreamed of. BMO’s 15th annual Retirement Survey found that 63% of Canadians are worried that rising inflation is affecting the money they set aside for retirement savings. Come to think of it, we often put retirement plans on the back burner to meet the current financial challenges.
We think we will catch up on the missed savings next year or maybe the year after. By the time we pump up the retirement pool, it is too late, and we have lost the benefit of compounding.
To give you a gist of the power of compounding, I plugged a few numbers into an investment…
