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Mullooly Asset Management, Inc

Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

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Retirement Planning: Saving Money is the Biggest Key Video

February 19, 2013 by Thomas Mullooly

 

In this week’s Mullooly Asset Management video Tom and Brendan try to make sense of reactions to a recent Dave Ramsey tweet. In the tweet Ramsey said, “Saving only $100 per month from age 25 to age 65 at 12% growth = $1,176,000. Everyone should retire a millionaire!”, which is mathematically accurate. However Ramsey’s math skills are not what is being questioned by naysayers. People are upset because they think (and rightfully so) that it is nearly impossible to find an investment that will yield returns of 12% over a forty year period of time. While they may be correct they might be overlooking the main message of Ramsey’s tweet. Tom and Brendan discuss how Ramsey’s general message to his Twitter followers is to SAVE MONEY. Retirement planning, and financial planning in general, require that you take the initial step to save some money. Without saving money, nobody would be able to retire comfortably. Isn’t that what most of us are after? Speaking of retirement planning and saving money, did you know that 30% of American families have no savings account? Learn more about Ramsey’s tweet and also that alarming statistic about savings accounts in this video.

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Filed Under: Videos, Retirement Planning

About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

1971 State Route 34, Suite 102
Wall Township, NJ 07719

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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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