One in three Americans has zero set aside in retirement savings. Whether you have a little, or just want to be better prepared by saving even more — here’s my advice on why saving for retirement is so important when there are countless more pressing needs on your finances today.
In today’s episode of Your Money Minute with Tracy Stewart, CPA, I want to talk about why it’s so important to be saving for your retirement. Yes, this could be 15, 20 or maybe even 30 years away… But the time has never been more important to get started, and we’re going to talk about why.
Yes, there’s always something that comes up and demands you pull out your wallet. The car needs repairs, someone gets sick, the roof leaks… I get it. I’ve totally been there!
But your retirement will be measured in decades. People are living longer and longer these days, and your money is going to have to stretch even further. Have you set aside something yet? You need to be — and I want to help.
There are plenty of behavioral studies that focus on how to “trick” your brain into saving more money and how to encourage yourself along the way. Yes, it’s hard. Yes, your money is tight. But no, putting off retirement is not a good strategy. All this week I’ll share tips for changing your mindset on saving for retirement, so stay tuned for advice to come.
Financial independence is unbelievably liberating. If you have money stowed away for the future, you can rest easy at night knowing your tomorrows are funded for as long as you need. What a great feeling, right?
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