Investing is necessary to hit nearly every financial goal imaginable, including retirement.
Some people are scared of investing, but what you should really be afraid of is the consequence of not investing. There is a huge opportunity cost to sitting on the sideline.
For example, take someone who is a diligent saver and put away $10,000 per year from 25 to 65. If that person puts that money in an interest-bearing account, like a savings account, that yielded an interest rate of 1% on average, they would be left with just over $500,000.
But if you were to invest that money instead, you’d have over $1.25 million![Read more…] about How to Invest Your Money: A Beginner’s Guide