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It’s Never Too Early to Start Planning Financially for Your Retirement - MSN,com
Do not wait until later in life to think about retirement. While you may feel young and carefree now, you must plan ahead to ensure you can afford the retirement of your dreams when the time comes.
Many still target age 65 for retirement, based on outdated norms such as the old pension age and the original Social Security full retirement age. Now, people need to rely more on personal savings, such as 401(k)s and IRAs, since pensions are disappearing and Social Security was never intended to be your sole source of income.
Charlotte Hilton Andersen shared a story, originally told to her by Tim Jenson, that highlights key factors to consider in retirement planning. The story explains why earlier savings lead to greater financial security after leaving the workforce. It includes an example demonstrating how your savings can double depending on when you start and the compound interest earned over time. Read the article here ….
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