Retirement is something that everyone looks forward to doing some day.  How comfortable you can live during retirement will be determined by how well you saved up for retirement.  If you start working later in life, more likely than not, it will take you longer to be able to accumulate the funds you need to retire comfortably.  Some of us do not think about saving for retirement, until we get close to retirement age.  Well, by then, it will be too late to build up the money that we need to retire comfortably.  This is why it is important to start planning for retirement early.  I say, from the moment you get your first full-time job that allows you to contribute into your retirement plan, do it. 

The types of retirement plans usually offered by employers are, 401K or 403B There are also other types of ways that you can save up for retirement, is by making good investments with your money or investing in stocks, bonds and mutual funds in addition to your employer based retirement funds. 

 

Most people do not contribute much into their employer retirement fund, and as a result he/she could find themselves working well into their 70’s and 80’s, because they do not have enough money saved for retirement.   Again, I say, plan early to make contributions to your retirement plan.  You can also open up a money market account through your bank and save money that way, it is always best to start saving early, so that you can live comfortably in your retirement.  There are some people who will say, I am going to spend my money now and enjoy it now, I might not live to see retirement, but what if you do and you haven’t saved for it?  You’ll be working beyond the age you anticipated.  If you haven't saved up for retirement, start saving today. 

 

Watch this video on how to start planning for retirement:

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Video Source: YouTube

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By Jason Torrents