3414: Five Steps to Begin Saving for Retirement in Your Twenties by Tiffany Aliche of The Budgetnista on Simple Retirement Prep

Hey, Sal. Hank? What's going on? We haven't worked a case in years. I just bought my car at Carvana, and it was so easy, too easy. You think something's up? You tell me. They got thousands of options. Mhmm. Found a great car at a great price. Uh-huh. And it got delivered the next day. It sounds like Carvana just makes it easy to buy your car, Hank. Yeah. You're right. Case closed. Buy your car today on Carvana. Delivery fees may apply. Hey. It's Justin from Optimal Living Daily. Before we start, I wanna share a super powerful practice I use called NSDR or nonsleep deep rest. In just about ten minutes or so, this yoga nidra practice leaves you feeling as refreshed as after a nap without actually sleeping. Experience it for yourself on our guided podcast. Search NSDR and look for the one from Optimal Living Daily. This is Optimal Finance Daily. Five steps to begin saving for retirement in your twenties, by Tiffany Aliche of thebudgeonista.com. How do I begin to plan for retirement in my twenties? It's a great question. In fact, it's the second most asked question when it comes to early retirement planning. Here, unfortunately, is the first most popular question. Why should I start planning for retirement in my twenties? Why? Because it's your younger self's responsibility to take care of your older self. If you don't, there's no guarantee anyone else will. The earlier you start, the sooner you can get your money working for you. Your twenties is a great time to start because this is the time in your life when you can afford to put away a large chunk of your income. I'm in my thirties now, and I remember how inexpensive life was way back then. I had a roommate, no cable, and a beat up little car. Life was good. Okay. Life was cheap. Many consumers in their early twenties are often single, child free, and are joining the adult workforce for the first time. This means an adult income without the financial responsibilities older adults enjoy. Here's why you want to start saving for retirement now. The earlier you begin, the better the chances that you're going to be taken care of when you're older. Retirement may seem far off, but it will be here sooner than you think. Five easy steps. Here are five easy steps many 20 can take to save for retirement. These steps are courtesy of my frugal friend, Jason Bushey, of creditnet.com. Number one, max out your company's four zero one k matching. If your company offers four zero one k matching or something similar, it's important that you max out the percentage of your salary your company is willing to match. Whether it's four, five, or 6%, your company is offering you free money for retirement. Take them up on it. In fact, take them up on as much of that free money as you can. I shudder …