3 Painless Ways to Save for Retirement in 2021
Let's face it: There are probably things you'd rather do with your money besides sock it away in an IRA or 401(k) plan. If you don't make an effort to save for the future, however, you may find yourself dangerously cash-strapped during retirement. If you've struggled to save for your senior years in the past, here are a few steps you can take to simplify the process next year and come away with more long-term wealth.
The beauty of getting a raise is that the extra money you receive is money you were never counting on to pay the bills. If you bank your raise in its entirety, you'll work wonders for your savings without feeling the pain.
Imagine you get a raise that boosts your income by $3,000 next year. If you were to take that entire $3,000 and put it into long-term savings, invest it at a 7% average annual return (which is doable with stocks), and then leave it alone for 30 years, you'd grow it into nearly $23,000.
Source Fool.com
