Even a small start makes a big difference?

It's the age-old challenge based on basic behaviorial science: We humans aren't great at looking into the future and envisioning ourselves, our needs, our dreams. But the truth is, the best thing we can do for our long-term future is take some time to visualize it. Now. Countries around the world are facing shortfalls in state-sponsored retirement plans; very few citizens can expect a comfortable old age from their governments So stashing away even a little bit of money now can go a long way later. Whether you contribute to a workplace retirement plan like a 401(k) or an individual retirement account (IRA), getting an early start can make a huge difference in the size of your retirement nest egg. Keep in mind that you could live a long time after you stop working.

Ok, you've convinced me to save. Where and how do I do it?

If you work for a company that offers a 401(k) or pension plan, your employer may have automatically enrolled you when you started working. In that case, not only is your money going to work for you, but the taxes on that money are deferred. You might also be able to sign up for an auto-increase plan, which allows your plan administrator to increase your contributions over time. Since your salary is likely to rise as you continue working, this is a painless way to boost your savings. Most experts recommend contributing at least enough to your retirement plan to qualify for the matched contributions from your employer. Otherwise, you're literally passing up free money. If you're freelancing or otherwise self-employed, you can set money aside in one of several retirement plans for entrepreneurs. including a SEP-IRA and a solo 401(k). And just about anyone can open an IRA, even if you're also saving in a 401(k).

Yes, You Should Invest for Retirement Now

How to Invest

Yes, You Should Invest for Retirement Now

Here's why: time is the saver's best friend
Even a small start makes a big difference

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The magical multiplying power of compound growth

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Ok, you've convinced me to save. Where and how do I do it?

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Keeping your eye on the prize

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How to Invest

Mix It Up: Diversify!

When it comes to investments, diversity is strength
Start Next Stack

Now that you've decided to start saving for retirement, here are two things to keep in mind. First, you'll want to have a long-term view, which means being patient. Secondly, you'll want to protect yourself by not concentrating your wealth into just one or two investments. These two card stacks go into those concepts in more detail:

How to Invest

Riding the Stock Market's Long Rollercoaster

4 Cards

How to Invest

Mix It Up: Diversify!

4 Cards

Yes, You Should Invest for Retirement Now

Mix It Up: Diversify!

Going Deeper Into Investing

Riding the Stock Market's Long Rollercoaster

Mix It Up: Diversify!

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