The Hare Investor
The hare in the fable thought he could be first to the finish line, even though he started the race late. Likewise, the hare investors wait until they’re earning higher wages before they set money aside for retirement. But, by not starting early they could be sacrificing years of potential growth and may have to contribute much more to their retirement accounts to make up for their late start.
The Tortoise Investor
Like the tortoise in the fable, tortoise investors don’t wait. They start saving for retirement as soon as they’re receiving a paycheck – and keep contributing steadily throughout their working years. By starting early and reaping the benefits of compounding (earning interest on interest), tortoise investors may have to contribute less of their own money to achieve their savings goals.
Ready. Set. Save!
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