Half of people 18-29 aren’t saving for retirement

People without retirement savingsAccording to this study discussed in The Washington Post, 50.5 percent of folks ages 18-29 are not saving for retirement. I wonder if the results are skewed by the people right out of high school. I didn’t start thinking about retirement until I earnestly entered the workforce five years ago, and I still feel behind. Nothing was being contributed the year I attended grad school.

I’m worried about my younger brothers. Should I tell them to open at Roth IRA ASAP and just start adding $25 per month to it? In theory, they could have significantly more money in their accounts by the time they reach my age. Thanks, compounding interesting.

The report also says one in five people in retirement age don’t have any savings. I don’t want to be one of those folks. It’s time to actually figure out the amount of money I need to retire, ya know? So I won’t be the person in that Prudential commercial who’s blue piece of paper runs out before she reaches her final years on Earth. I want to retire and I want to do so comfortably.

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