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Although it may be alluring to rely only on Social Security, its future is unclear, he said.
Compound interest is one of themost effective strategiesavailable to young people.
Amodest monthly investmentstill has the chance to compound exponentially over time.
This perfectly encapsulates why young workers should start thinking about their financial future today.
It is imperative to budget for future expenses as prices will only rise.
It can be tough to think about retirement when your income is variable.
He explained, They offer some awesome tax benefits like tax-deductible contributions and tax-free growth.
In fact, many people findgreat joy and fulfillmentin continuing to work through side hustles or passion projects.
Younger people have the time to develop hobbies and interests into income streams later on.
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