Money Matters: Saving for Retirement

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Hey! Did you know that saving for retirement is as easy as 1-2-3?

1. Start early. If you start saving at age 25, your nest egg could look like this. But if you wait until you are 35, if could look like this. Big difference.

2. Be consistent. Save every month, no matter what. It is ideal to save part of every paycheck for retirement, but if that’s not possible, put some amount aside every month or several times each year.

3. Let compounding work for you. Compounding is what happens when your interest earns interest. Over time, compounding can make the difference between a comfortable retirement and just getting by.

For more tips on retirement planning, visit southernbank.com/get-well.

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