Have you ever thought about your retirement?  

According to a study, adults delay savings for their retirement until a decade or more before they retire because this is the last thing on their mind. 

No matter how financial experts advise everyone to start saving as soon as they receive their first paycheck, this is not easy for many since they have other financial responsibilities to think about. 

But sooner or later, everybody will face it, as you age, you are inching closer and closer on your way to retirement.  

It’s a reality. No one can escape it as long as you are alive. 


When to start saving for retirement? 

It is never too late to save at least something for retirement, but it’s also never too early. The earlier you begin, the easier it is to build a strong and sturdy nest egg for the future. 

As you start working, you may not earn a lot of money yet, but there’s one big advantage you have – TIME.  

But if you put saving aside too long, before you know it, you’ll be just a few short years away from retirement with little to nothing saved for your golden years. 


Yes, when you reach your retirement age, you will probably have a pension from social security. But, will that be enough?  

Will you continue to live in your present home or will you relocate? Do you want to travel? These and many more questions need to be answered in your preparation for your retirement years. 


How will you start saving for your retirement? 

First, know your goals. 

The sooner you start saving for retirement the better. But make sure you set realistic expectations and goals before you start mapping out a plan on your own. In case you don’t have the know-how, consider hiring a financial advisor who can help prioritize your goals. 

Second, if you have a 401(k) plan at work, that’s the smartest place to start investing and have as much as you are allowed or can afford to be contributed to each pay period. 

Third, as soon as you can, you should start investing a percentage of your pay for your retirement. These investments can be IRAs, mutual fundsstocks, bonds, money market, or other investment vehicles your broker might suggest. The secret is to make it a habit to invest regularly and not be tempted to use the money. 

And, lastly, if you are older and just starting to think about your retirement, there are ways you can make up for the lost time. While starting at a younger age gives you more time to accumulate money but with good investment strategies, you can sometimes manage to make enough for a comfortable retirement. Discuss your needs with a reputable broker and stick to your plan. 


If you’re still doubting when to start planning for your retirement, remember this.  


The one thing you can’t bring back is time and the one thing you can’t avoid is your retirement. Getting yourself into the habit of saving regularly as soon as possible will follow you throughout your life and into your retirement. 

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