Part 3/4:
The conversation shifted to advice on retirement planning, with Lapera encouraging listeners to take advantage of any available 401(k) plans. She emphasized the necessity of investing early in these plans for long-term benefits. Caplinger echoed her sentiments, stressing that even minimal contributions can accumulate over time, leveraging tax benefits that can significantly impact one’s retirement savings.
In a whimsical moment, Lapera quipped about a potential retirement-related caterpillar analogy, a concept Caplinger humorously sidestepped. He concluded by affirming that while saving for retirement can often feel slow and tedious, as if "inching forward bit by bit," the long-term rewards of early contributions to an IRA or 401(k) significantly outweigh the initial efforts.