The CEO and founder of a retirement-planning app says two things could jeopardize your retirement: withdrawing from your 401(k) and spending too much.
AdvertisementThe choices you make today will influence the amount you have saved to live on tomorrow.
Retirement savings grow over time, so balancing your immediate needs with your long-term goals is a must, especially when you're years away from retiring.
Retirement accounts depend on compound interest to grow, which means the longer you can leave your money alone, the better.
Taking money out of your account could hurt the balance you'll have saved when you retire, even if you replace it later.
Persons:
—, Rhian Horgan, Horgan
Organizations:
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