Author: Bojan Mijatovic, Contributor
When it comes to retirement planning, timing is everything. One of the most effective steps you can take toward securing your financial future is to open an Individual Retirement Account (IRA) as early as possible. The sooner you start, the more you can take advantage of the powerful benefits that an IRA offers. Here’s why opening an IRA sooner rather than later is a smart financial move. 1. The Power of Compounding Over Time One of the most compelling reasons to open an IRA early is the power of compounding. Compounding occurs when the earnings on your investments generate additional…