Along with saving for your short term goals and tucking some money aside for a rainy day, it’s also important to implement long term savings.

Long term savings are typically used for funding your retirement or your children’s college expenses. Establishing a plan for long term savings can seem like a daunting task at first, but it’s one that you can accomplish if you put your mind to it. The great news is that, with long term savings, you can benefit drastically from the interest build-up.

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