The time when one should start saving for retirement is a dilemma everyone faces in life. You might think that it is wise to start as soon as you begin with your first job. Others may think that they must start around 10 years after their marriage. Though there are no hard and fast rules, the best time to start saving for retirement is as early as possible.
The time after you enter your first job is ideally the right time. You might be struggling with a low salary and could have postponed the thoughts of retirement plans, as retirement is still more than 30 years away. You may be having loans to repay and might be staying in a rented accommodation. However, none of these should deter you from saving small amounts for your retirement plans.
Why You Should Start Saving Early
There are important and critical reasons you must not delay your retirement savings plans. Here are some of the…