Saving for the FuturePosted on February 22, 2013
I realize retirement is probably the last thing on your mind at this point in your life, right? Well, it shouldn’t be! I know retirement seems like a long way off, but the earlier you start saving, the better off you will be when that time comes. There are many different paths you can take when it comes to planning for retirement. Here are a couple of options:
1) 401K – A retirement plan usually available through your employer. You can contribute a percentage of your paycheck to this retirement account every pay period. That way you never see the money, so you don’t miss it! And some employers will even match what you contribute, up to a certain percentage. You can’t beat that!
2) IRA – An account that you can open with almost any financial institution to start saving for retirement. There are two different kinds of IRAs: Roth and Traditional. They are very different from one another so, if you choose to go this route, make sure you do your research so you know which is option is best for you.
I highly recommend you look into retirement planning as soon as possible. I started contributing to my 401K this year and I couldn’t feel better about it. Now, I have the peace of mind knowing that I’m already saving money for my retirement. It gives me a feeling of security about my future.
Have you taken the steps to begin saving for retirement?