Saving Early for Your Retirement - Page 2 of 2 - Black Enterprise
Black Enterprise Magazine Summer 2019 Issue

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getting raises regularly, earmark them for your retirement. You’ll hardly notice that you’re saving more.

Investing your money has gotten a lot easier in recent years with the increased use of target date funds. These funds are comprised of several other funds that make up a well-balance portfolio. The manager–not you–decides what the exact mix of socks, bonds, commodities or cash needs to be, and then adjusts it over time. Simply choose a target date that matches your anticipated retirement date.

“Target date funds are ideal for younger folks because their financial situation is generally not complicated and they don’t need a lot of customization that someone in their 40s or 50s might,” says Pam Hess, director of retirement research with Hewitt.

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