In Your 40s? Time to Think Retirement

Houston people in their 40s should be thinking about retirement, today. You can’t keep waiting, because tomorrow will come. Setting a little aside is a good idea -- much better than needing to work when you're in your 70s.

It's best to have a plan, says Scott Bishop, VP of Financial Planning at STA Wealth Management.

“(If you can) find a way to put away 10-15% of your earnings – as long as you have another 25 years until you retire,” Bishop advises, “you’re probably going to be in great shape.”

The numbers don’t lie. If you can save $5-thousand dollars a year, starting when you're 45, and generate an average annual return of 8% -- just below the stock market's historical rate -- you'll have $229-thousand at 65.

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