Saving for retirement is one of those things you wish you didn't have to think about -- with so many options and concern over the state of Social Security, it's enough to make your head spin. The National Institute on Aging (NIA) is a great resource to help you start planning now so that you won't have to worry in your later years.
The following advice is taken from their booklet "Saving for Retirement," which was published in response to their ongoing Health and Retirement Survey with the goal of educating the public about health and aging in order to improve the lives of older people.
Start saving now: Youre never too young to save money for your retirement. Setting it aside now, whether it's in a savings account or the stock market, will give you a chance to watch it grow as well as to recover from any fluctuations in the market. Set specific goals on how youll save from your paychecks each week or month.
Enroll in a retirement plan: Many employers offer their workers a 401(k) plan to help save for retirement. Some even match the money you contribute from your paycheck. If you want information on your company's policies, check with your Human Resources department. If you don't have a 401(k) -- or even if you do -- consider other ways to save, such as individual retirement accounts (IRAs), which can earn you tax-free dividends.
