How would you like to retire here? Can you believe how beautiful this is? Hi. This is Scott Carter and I’m in Zihuatanejo in Mexico and it is one of the most picturesque beautiful pieces of property in Mexico, and I’m thinking, man, how would it be if I could retire here? Well, if you want to retire in places like this, you’ve got to start early. You’ve got to save money. You’ve got to put it away and you’ve got to be consistent.
Ben Franklin said money makes money and the money money makes, makes money. He said that in 1775. Let me say it again. Money makes money and the money money makes, makes money. What he means by that is start early. Compound interest is one of the greatest ways to increase your investing. If you start early in your 30s, in your 40s and you put money into retirement accounts and you set money aside in equities, you will have a nice portfolio by the time it comes to retirement.
When you think about how much money you’re putting away, it’s not necessarily how much at the end of your career you put away, it’s when you get started and if you can get started in your 30s and 40s in your 401k, in your self-directed IRA account, in putting money away in annuities, you are going to have compound interest be your friend and you will have a lot of money in your portfolio when you turn 65 and 70 so that when you come down to a place like this where I’m just visiting, Zihuatanejo, you will have a great portfolio that you can live here and relax.
Just one more panoramic view of what I would call one of the most breathtakingly beautiful little communities in the world. Have a great day. Start early. Remember, as Franklin said, money makes money and the money money makes, makes money. Have a great day.