Retirement is like a deadline. No matter how far away you think retirement is, it’s always closer than it seems, which means the time to start saving is now. For those of you just starting, here’s a rundown of the basics of starting an account. For those of you who already have retirement accounts, here’s just a little more insight on what other expenses to expect from retirement.
Types of savings accounts If your employer offers a 401(k), this retirement savings account would probably be the easiest for you to file away your savings at, according to Teresa Mears’ article in U.S. News. Usually your employer will match your contribution and you can choose to have the money withheld from your payroll automatically. For non-profits and public employees such as teachers, the equivalent would be a 403(b). Both of these can rollover to your new employer if you decide to switch employers.
Use these tools and use the knowledge you have now to increase your potential for your own future. When you reach that golden age of 65, or earlier or later depending on you own desires, make sure that you can focus on your dreams and not just your bank account.