Saving For Retirement In Your 20s

Savings, investing, and retirement are very related, yet the topic of retirement planning gets pushed off to the side.

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We fear dealing with the unknown, or we are neglectful. Instead, planning early and often for retirement will empower you to control for a stage of life that could quite exciting if done right.

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Start in your 20s to take advantage of tax benefits, compounding interest, and peace of mind when you are older.

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Why You Need Retirement Planning Early

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About 65 million, or nine out of ten Americans, aged 65 or older received $1 trillion in social security benefits in 2020.

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It promises a specified pension payment or a lump sum payment from your employer when you retire.

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– Start saving early in a retirement account even if they are initially small amounts. – Raise your contributions accounts as you receive salary boosts and bonuses.

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By saving early in your retirement, you are investing for the long term.

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Saving For Retirement In Your 20s

Savings, investing, and retirement are very related, yet the topic of retirement planning gets pushed off to the side.

We fear dealing with the unknown, or we are neglectful. Instead, planning early and often for retirement will empower you to control for a stage of life that could quite exciting if done right.

Start in your 20s to take advantage of tax benefits, compounding interest, and peace of mind when you are older.

Start As Early As Possible

Why You Need Retirement Planning Early

1. Life expectancy has increased significantly since 1960. Recent forecasts point to further increases to 83-86 years for men and 89-94 years for women in 2050.

About 65 million, or nine out of ten Americans, aged 65 or older received $1 trillion in social security benefits in 2020.

2. There could be challenges for Social Security retirement income benefits.

It promises a specified pension payment or a lump sum payment from your employer when you retire.

3. Defined pension benefits have a long history but were a 20th-century cornerstone for retirees.

– Start saving early in a retirement account even if they are initially small amounts. – Raise your contributions accounts as you receive salary boosts and bonuses.

Retirement Goals You Should Consider

By saving early in your retirement, you are investing for the long term.

Retirement Accounts are Really Investment, Not Savings Accounts

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