Young Americans: It’s Never Too Soon to Save for Retirement ! - Washington Post
Time is, inarguably, one of the most important factors for building a sizable retirement nest egg. That is the word from countless older Americans who have neglected saving in their younger years, only to now find themselves lacking the financial means to retire in comfort. In a way, it’s understandable, because life’s necessities – rent, food, utilities, college loans, transportation, etc. – strain most every young person’s pocketbook to the point that socking money away for a retirement decades away takes a back seat. And then, before they know it, retirement is just around the corner and they don’t have a large enough “nest egg” when it is needed most. If only they had started saving earlier! It is a lament we hear almost every day, and one which those new to the workforce should heed.
For younger Americans: time is on your side, and it’s never too early to start saving for retirement. Those who, early in life, put saving for retirement on their list of necessities will definitely pat themselves on the back when they are older. The power of compounding is a tremendous force which will turn even the most meager systematic saving into a sizable future asset, and the time to start saving is now – even if its only a few dollars per week – as explained by Michelle Singletary in this Washington Post article. Don’t miss reading about Ms. Singletary’s personal experience, and don’t delay making retirement saving one of life’s necessities. Click here.
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