Thanksgiving isn't just about turkey and gravy; it’s also a time when families gather to catch up — and sometimes, that means diving into financial discussions between bites of stuffing. It’s only natural, and this post will unpack five frequent financial questions that may surface this time of year.

The Power of Compound Interest

This concept often sparks curiosity. Imagine $10,000 growing to over $76,000 by age 65 at a 7% annual return. That's the magic of “interest on interest.” Starting early and staying consistent are key!

Benchmarks for Savings Goals

How much should you save? General advice suggests 15–20% of your gross income yearly, with 1–2x your salary saved by age 35 and 10x by retirement. Remember, consistency is more crucial than perfection.

Principles of Financial Independence

Financial independence means having control over when you retire. To achieve this, live within your means, dodge lifestyle creep, and avoid overspending on housing.

The Value of Diversification

It’s tempting to chase the “next big thing,” but spreading investments across various asset classes, sectors, and geographies helps reduce risk and supports long-term stability.

The Case for Long-Term Investing

Resist the urge to time the market. A solid long-term strategy, braving market fluctuations, and focus on steady growth will serve you well.

As you digest your meal and these insights, think about any financial questions you’ve been pondering. Asking questions is a wise step toward better financial health. Feel free to reach out for a more personalized discussion!