Posted on Friday, September 27th, 2013 at 6:16 pm.
When you’re in your 20’s, retirement planning is often the last thing on your mind. However, experts suggest that this may be the best time to start saving up.
According to an article by marketplace.org, those who start saving in their forties may need to put away 20-25 percent of their earnings for retirement. Those who start in their 20s will probably only have to put away around 10 percent.
The older someone is when they begin saving, the harder it often is to catch up. Those in their 50’s who just start planning for retirement may never catch up. In fact, some data suggests that about 2/3 of Americans have not saved enough for a comfortable retirement.