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Use the magic of compounding to achieve long-term goals


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Long-term goals can seem so unattainable because they are so far in the future and can be very expensive. However, by putting a little bit aside every month, you can take advantage of the magic of compounding when saving for long-term goals.

This is the only way most people can accumulate the money needed for goals like a comfortable retirement. The younger you are when you start saving and investing, the easier it will be to achieve your long-term goals.

The following resources may assist you to use the magic of compounding to achieve long-term goals:

How Compounding Works

Compound Interest Calculator

Compound Interest Video

Choose To Save


Getting Out on Your Own Tasks

1. Finding housing
2. Building credit access and usage
3. Reaching financial goals
4. Setting up a spending plan
5. Getting properly insured

Reaching financial goals Subtasks

1. Establish a rainy day fund
2. Identify short-term goals that you want to spend money on in the next 3-6 months
3. Identify intermediate-term goals that you want to spend money on in the next 6 months to five years
4. Identify long-term goals that you want to spend money on in the next 5-20, or more, years
5. Use the magic of compounding to achieve long-term goals

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