When to Start Saving for Retirement

There are a lot of misconceptions about saving for retirement. One of them is that you start saving for retirement when you're around middle age, and you're salary is high (or at least, higher than when you started working). But this is not the case.

Through my work, I have come to learn that the opposite is true: you need to start saving NOW. When you've just started working, you should have a strict budget; instead of buying the new PlayStation or going on that trip with all your friends, you should save that money for retirement. When you're young, you don't have kids to pay for or, and you may not even have a mortgage or a car loan yet. This is when you need to start saving.

I know it's exciting to have your first professional job, now you have money and can buy the things you want, but what you really need is to save, save, save. Your future self will thank you. Because once you hit the age where you want to get married and have kids, you can cut back on the saving, because the dividend and interest money you get off the money you saved when you were young will make it so you don't have to save as much in the future.

Bottom line, SAVE NOW! This is something you can't put off.