Sallie Krawcheck: Here's how much of your income you should invest, no matter what you're earning via CNBCMakeIt
Sallie Krawcheck, co-founder and CEO of Ellevest and former Wall Street executive, has said that the worst financial advice she's ever heard is that you can always start later.
In fact, Krawcheck told an audience of 150 women entrepreneurs at a conference hosted by Jennifer Bett Communications, anyone can start building their investing prowess right now. The easiest way to do this, according to Krawcheck, is to have a certain percentage of your paycheck auto-deposited into your employer-sponsored 401, if you have one. Self-made millionaire Tony Robbins also swears by this"pay yourself first" trick, and recommends the method for those looking to retire rich on an average income.
But failing to invest, no matter how small the amount, is like letting $100 fall through a hole in your purse every single day, says Krawcheck."How long does it take you to fix your bag? No time, and yet we let this money go right past us."
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