When you are merely getting by, the thought of saving for retirement can seem like an unobtainable goal. And don’t feel like you’re alone in this battle. According to a recent article by CNN Money, roughly one-third of Americans have nothing saved for retirement. But that does not mean you are doomed.
“It’s easy to tell yourself that you’ll put off saving until you start making more money. But that’s an easy trap to fall into, and before you know it, you could be just a few years away from retirement with little to no savings.
Even if you’re barely making enough to cover your expenses, it’s better to start saving for retirement earlier rather than later. That may seem like a tough task, but the earlier you start saving, the easier it will be. Just a few dollars a week can amount to thousands over time thanks to the power of compound interest, so you don’t need to save a lot to see a significant impact.”
The article goes on to explain the benefits of saving–even a little–now. CNN Money also gives examples of how you can do so.
To read the full article, visit the CNN Money site here.