Garcia developed Finhabits because he wanted to give clients a simple approach to saving for retirement.
Understanding the best ways to save and invest can be complex for the average consumer to grasp.
Garcia said he spent the past decade trying to make financial services more customer friendly.
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Thus, Finhabits was born.
We can adapt to a users cashflow, he says.
We know existing workers might have inflows and outflows.
If investors need to stop making contributions to their account for a couple months, they can.
When more income is flowing in, investors can easily increase their level of contribution.
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How Far Can Your Money Go?
One of the best pieces of advice Garcia said he has received is to start saving early.
The Finhabitsretirement calculatorlets you see the impact your contributions will have by the time you retire.
Saving for retirement is a long-term game.
One misconception Garcia comes across often is the idea that you could become wealthy overnight.
If theres something that can double, its probably also something you could lose, he says.
Instead, he recommends long-term investing with a diversified portfolio thats constructed to minimize the risk of loss.
Nicole Dow is a staff writer at The Penny Hoarder.
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