Christopher Linkas Advises Millennials to Start Saving for Retirement
A sound retirement plan is one of aspect that can help one live a healthy life. A good retirement plan does not only afford the recipient an easy but also an enjoyable retirement. It is this promise that makes Christopher Linkas enthusiastic to share his expert opinion on investing in retirement with the young generation. Christopher Linkas has over two decades of experience on matters relating to investment and retirement.
Most young people feel that it is early to discuss retirement plans. Millennials feel like they have many years in the workforce, therefore, being less concerned about retirement. However, as Christopher Linkas observes, young people ignore planning for retirement and before they realize, the golden years approach. It is on this note that Linkas advice that the best time for investing in retirement is now.
Some of the factors that make young adults unenthusiastic to start saving for retirement is the small starting salaries. This factor has been one of the most common excuses by millennials for not saving for retirement. But as Christopher Linkas notes this should not be a reason as young adults can utilize the compounding technique to save for their retirement. In compounding technique, the proceeds from the initial investment are invested back, and with time the good earnings are realized.
One of the significant benefits of young adults investing in their retirement plans early in life is they get the opportunity to invest in ventures with high risk. They can invest in high-risk ventures because they have the time to rectify mistakes they make as opposed to their older counterparts. Second, they get to learn how to spend their money wisely at a young age. Also, they get to have a quality life as they get some financial security from the retirement plan.
Christopher Linkas notes that those who start saving early for retirement are a step ahead of their peers. Young people who invest early in life deal better with unexpected financial hardships that may face them. Christopher Linkas attest to this as he witnesses how life-changing early retirement savings can be from the investment group he heads that has its base in the UK.