By Gary A. Grossman, CPA, CFP
After finishing college, and upon entering the workforce, there are financial pearls of wisdom that you should consider. My list includes:
1. Starting a retirement plan
2. Understanding how to improve your investment’s rate of return
3. Options for financing a car
4. Purchasing or renting a home
5. What to read
6. Compound interest
Let’s start the discussion with “Starting a Retirement Plan”.
Funding a retirement plan throughout your life is one way to become rich. Starting to fund a plan when you first start working will “turbocharge” your investments. Here is an example:
In addition, many employers will match part of your contribution. This is a big incentive to save.
Do yourself a favor. Start funding a retirement plan as soon as you can to “turbocharge” the amount it will grow.
For guidance on starting a retirement plan, contact Gary A. Grossman, CPA, CFP, Managing Partner at [email protected] or 315.701.6304. Gary provides individuals, corporations, partnerships, estates and trusts, with tax planning, business consulting and financial planning services. Gary’s areas of expertise include management consulting, tax planning, and financial and retirement planning.
ABOUT GROSSMAN ST. AMOUR CPAs PLLC
Grossman St. Amour CPAs PLLC has bee in business for over 60 years. As a certified public accounting firm located in Syracuse, New York, Grossman St. Amour CPAs is focused on the quality service standards that are highly regarded in the accounting profession. Grossman St. Amour CPAs provides businesses and individuals with accounting, audit, taxation, business planning and valuation, financial planning, investment consulting, and fraud examination and deterrence services.