Retirement Planning For 20-Somethings

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Investing for retirement in your 20’s isn’t exactly child’s play. But it’s still one thing most 20-somethings don’t think about at all, and maybe they should… By starting a retirement fund early, a 20 something wont have to contribute as much as if they started that fund in their 30s or 40s, translating into smaller payments and greater return.

Now, I know you’re probably thinking something like: “but the economy is terrible… why should I start saving for retirement when its hard enough to pay for gas?” Well, a 25 year old who saves just $12.50 a week ($50 a month, probably less than you pay for cable tv), earning 8% interest, could retire with an extra $175,000 at age 65. That’s real motivation to start funding a retirement account soon.

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