Drew Foster is a current college student at Providence College in the state of Rhode Island. After completing his college education, Drew Foster hopes to enter immediately into the financial services industry. As a result, Drew Foster has spent quite a lot of his time in school learning about how to advise people on saving for retirement.
If you have been looking for tips and advice about saving and planning for your financial future, Drew Foster is here with some invaluable advice for you.
Start As Soon As Possible
One of the most important pieces of advice that Drew Foster has to offer is the idea that one should begin planning for their retirement and financial future as early as they possibly can. Drew Foster says that this is because of how interest works. For example, Drew Foster says that people who begin saving for retirement in their early twenties will have to save less money each month, as the amount of interest that they will accrue will be so much greater than people who begin saving in their forties.
Save What You Can As Often As You Can
Drew Foster has said that many people he meets put off starting a comprehensive retirement savings plan because they believe that they are not currently in a place where they can save enough money. However, Drew Foster says that it is far more effective for people to put away as much money as they can into a retirement savings account as often as they can. Drew Foster says that if people wait to begin saving until they feel like they have a comprehensive plan, they may miss out on valuable savings opportunities.
Work With A Professional
Over all, Drew Foster says that the most important piece of advice he can give to people who are beginning the retirement savings process is to know when to consult a professional. Drew Foster says that a professional financial planner can help you design and develop the right savings plan that you will need to ensure that you can enjoy the financial future of which you have been dreaming.
Drew Foster knows that the prospect of developing a comprehensive retirement savings plan can be difficult for many people. However, Drew Foster believes that anyone can save for the retirement that they want and deserve if they start saving now, save as much as they can as often as they can and know when to consult a professional.