I heartily endorse starting small as one of the steps to save for your future retirement. The Social Security Administration provides additional tips in this article. I am fortunate to be in a good retirement position now having saved early on and then gradually increased my savings along the way.
"It’s America Saves Week! That means it’s a great time to see how you’re doing with your savings goals. Most working Americans know they need to save for retirement. Sometimes though, because retirement is far off in the future, we may delay saving. When everyday expenses routinely pop up, saving for a time that is years away in the future can seem less urgent.
We’re working with Social Security to help you consider what your retirement will look like. The following strategies can make it easier for you to save for retirement:
Start Small. Saving something is better than saving nothing – especially with compound interest. Just $5 per day could yield a return of $1 million in 48 years with the right investments. Consider saving as early as possible. Start with 1% and increase how much you save each year."
|6 Ways to Make Saving for Retirement Easier|