Personal Finance Retirement

retirement....?

why it is important to begin planning for retirement early?

Public Comments

1. Planning early for anything gives you more options, greater freedom and increased understanding. Like the scouts say, 'Be prepared'. In this case for anything!
2. by the time u reach retirement age u wont have time to think about it. and u can save more money if u start early.
3. You plan for retirement early so you can start putting money away in an IRA sooner. Your money will grow much further with compounding interest if you have a long time to contribute.
4. If someone contribute $400 a month for 10 years in a investment that earns 8% and waits 20 years, he or she will have $341,081.45. If someone else waits 10 years and then invests $400 a month for 20 years, he or she will have $235,608.17. If you start early, you will have time to accure more money.
5. Hi, The answer is it is up to the individual. Have a read at the following article and it might give you a few pointers. Thanks http://good-financial-planning.info/financial-planning-for-retirement.php
6. So you do not run out of money late...