Good reasons to start now
There’s a golden rule when it comes to retirement saving – the best time to start is as early as possible. In fact, the moment you start working, you’ve already begun your journey towards retirement.
Getting an early start will greatly impact the amount of savings you will have for your retirement.
Benefits of Time and Compound Interest
By saving as well as investing money as soon as you start working, it gives you about 30 to 40 years of compound growth benefit which helps you steadily build funds for your retirement.
Achieving Financial Independence
One of the most liberating things is to achieve financial independence. To get there, you will need adequate retirement savings which will help you cover all your expenses including basic necessities, lifestyle expenses, discretionary items as well as the occasional indulgences. This gives you the liberty to pursue and enjoy your passions and other things in life without being a burden to anyone in retirement years.
Control Over Your Future
Preparing financially for your retirement by setting aside savings now and doing so consistently gives you a sense of control over your future. Having this control provides you confidence to continue enjoying your current lifestyle even in retirement.