Saving Early for Your Retirement

In your 20s, retirement is a bit like global warming. You know the day of reckoning will come, but it’s still decades away. But those years have a way of creeping up on you. Better to develop good saving habits now than to be staring down the barrel of 50 with just your collection of iTunes and Crocs in 20 colors as the sum total of your net worth.

“If you’re just going to rely on the government to fund your retirement, you’re going to be dirt poor,” says Brian T. Jones, a financial planner and author of Getting Started: The Financial Guide for a Younger Generation.

Not only that, but by the time today’s crop of 20-somethings retire, government sources of funding will be stretched even thinner than they already are. There’s renewed talk of raising the retirement age for Social Security, means-testing for eligibility, and benefit cuts. And don’t rely on your employer either, since a majority of them no longer offer pensions.  Read More.

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