Retirement may seem like a long way off if you are just starting out your career or learning to juggle a variety of bills and payments. But developing good savings habits in your 20s and 30s will help put you in a better position down the road. It’s not too early to start saving—here’s why.
There are so many expenses competing for your dollars that it can feel impossible to make retirement a priority. When you’re finally making more money and those student loans are history, you won’t want to be playing catch-up with your retirement savings. Saving your money now can give you the freedom to spend more freely later.
1 “The Retirement Readiness of Three Unique Generations: Baby Boomers, Generation X, and Millennials,” 2014, TransAmerica
2 “Traditional IRA Calculator,” Bankrate.com
3 “Age Comparisons Among Workers,” 2016 Retirement Confidence Survey, Employee Benefit Research Institute
4 “IRA Contribution Limits,” IRS.gov
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