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Start Early and Plan Prudently
Starting to save early can significantly reduce future financial stress and allows for smarter planning. Addressing finances from a long-term perspective, particularly by securing the end goal first, demonstrates a prudent approach to financial security. It is essential to be proactive, as unforeseen health issues may impact income later in life. Relying on the rule of 72 for short-term financial planning is a common misstep, underscoring the importance of a tailored approach to retirement savings.