Hector Gonzalez has spent the
last 42 years working to support himself and his family.
His wife Rita stayed home to raise
their three children, Elena, David and Sara. Hector was
at his last job for nearly 25 years, working as a salesman
for an appliance company. After all that hard work,
he deserves a major break. So, now that he's 67-years-old,
he's ready to retire and spend some more time at home
watching his grandchildren. Hector also wants to be able
to take Rita on some small trips -- like to the beach
and New York City.
Luckily for Hector, he planned
out exactly how he was going to spend his money so he'd
be able to save enough money for retirement. To
create a budget like Hector did, click here.
A smart budget wasn't the only thing
that helped Hector prepare for retirement. About 20 years
ago, he opened up a savings account at his local bank.
This account was separate from the bank account he deposited
all of his paychecks into. Hector put $10 a week into
the savings account and never took money out. Over time,
he earned a lot of interest on the money and now he
and Rita are going to use that money as a travel fund,
to pay for all of the trips they want to take. To
learn how to manage your savings account, click here.
Hector also earned extra money through
investing. He learned how to invest his money, and now
he and Rita can use that money to help them live after
Hector stops working. To
learn the basics of investing, click here.
Hector's smarts about managing and saving
his money mean that he can retire without having to
worry too much about money. He has saved enough money
to support him and Rita and has even saved enough to
do the extra things he's always wanted to do, like travel.
Hector is ready to retire in style.
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