The next big investment doesn’t have to start big.

Does this sound familiar?

What are you going to major in? Have you thought about used cars and new cars? How are you going to pay for that?

The future may seem uncertain with all the questions adults ask you. But to their surprise, you’re probably already thinking about it. You have your strengths at school, maybe writing, math or art. Maybe you put $20 in your savings account each week for a car, or have a Young Investor’s CD that you will put toward college.

You know the importance of planning for the future, whether it is a few years down the road or decades. One thing you may not know is that you can start saving money for retirement now. And, by the time you retire, you may already be a millionaire.

A millionaire, huh?

That sounds good, doesn’t it? By taking advantage of an Individual Retirement Account (IRA), your money will start compounding, or adding up, now, and by the time you retire, you may be a millionaire.

There are different types of IRAs, but the best option for younger investors is a Roth IRA. If you invest in a Roth IRA, your money will compound and grow with the contributions, or deposits, you make. If you continue with regular contributions, or just forget about it for 40 years, your money will have grown an average of 12 percent a year. Contributions are made after taxes, but when you withdraw during retirement, the money is tax-free.

Another bonus!

Roth IRAs can also help you make the next step in life when buying a home. They are best used for retirement, but you also have the option of using your Roth IRA for the down payment on your first home.

It adds up.

With your money growing with little or no effort, a Roth IRA really adds up. For more information on how to open a Roth IRA and begin planning for your future as a wealthy retiree, talk to any Mazuma account executive, call us at 816-361-4194, or do some research on Mazuma’s IRA products on our Deposit Products Web page.