I'm 21, but curious as to when and how I should start a retirement fund? any suggestions?
I have 10,000 in my regular savings, then I have a savings bond for 3,000 and my regular checking account that has 700 in it.
Most Helpful Guy
Well, if you start saving now, you'll earn interest on that investment now. Which means that the earnings from this year compound in growth each year.
Balance what you want NOW versus what you're willing to wait for LATER.
For some, the sacrifice makes them miserable now and they just complain waiting for the future.
I had waited a few years and then started saving at a slow rate. If I had started right away, then I would have become used to my standard of living.
My recommendation - don't fall prey to impressing others. You're allowed to have your "toys" just don't let it interfere with your happiness if you regret buying it...0