The best time for start saving for retirement is at the earliest possible date.
Further explanation:
Retirement is the age when you leave your job and stop working. The best time of saving is as earliest as you can start savings since expenditure will always associated with you. No matter whether you have bought a house or paid off the loan of the student, you must save all the time whenever possible.
Following is the plan for savings:
Pay yourself first- List the fixed amount of savings other than your spending.
Follow automatic saving methods: Use a direct automatic transfer of certain amount from your salary account into a salary account each month.
Save part or all of other income: Select your tax refund, tip money and annual bonus directly to the saving account.
Make saving bucket: Closely observe these things when your salary grow:
- Holiday Shopping
- Things you want
- Vacation
- Retirement
Create some emergency fund- Create some emergency fund other than the saving fund for the emergency cases.
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Answer details:
Grade: College
Subject: NA
Chapter: NA
Keyword:
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