Plan for Retirement
When it comes to saving for retirement, most Americans under the age of 30 probably haven’t even considered it.
Big mistake. The sooner you can plan for retirement, the better.
Retirement saving isn’t something you should wait to do right before you retire. In fact, the sooner you start saving for your retirement the easier and less burdensome saving will be. Waiting until the last minute to save for retirement means you will have to save a great deal more money in a shorter period of time and won’t be able to take advantage of the benefits of compound interest available with long term saving.
It’s not all about saving money. Jessica Whitmore points out more tips on how to plan for retirement on Investor Place:
Retirement planning isn’t just about saving money. It also requires making plans for how you’ll spend your time when you stop working. Maybe you want to learn a new skill or travel to exciting places. Maybe you aren’t planning for full retirement but want to pick up a part-time job or try a new career or business opportunity. Maybe you want to volunteer and share your life experience to help others. When you retire, you need to think about what’s next.
But starting your retirement saving early is only one of the many best pieces of advice for those who are looking forward to an easy retirement. Here are a few more from Jessica Whitmore, an InvestorPlace Contributor. Read them here.