3/27/2015 – Why putting off retirement savings until you make more money is a big mistake (The Washington Post)

Mar 27, 2015 Comments Off by

People in their 20s have a list of excuses for putting off saving for retirement: Their paychecks are too small. They don’t know how long they’ll stay with a company. Why worry now about something that feels a million years away? But a report from the Employee Benefit Research Institute drives home the point that waiting until you’re older and making more money to start saving for retirement could be a bad call.People who start early can get away with saving a tiny portion of their pay and still have a decent chance at having enough money in retirement (in other words, their money won’t run out before they die). But those who put it off need to save dramatically more to catch up.

Read the full article at The Washington Post.

Financial Landing 2015

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