Summary of How to Win at Retirement Savings

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How to Win at Retirement Savings summary
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6 Innovation

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Recommendation

Someday you’ll retire, probably. Retirement is something nearly everyone does sooner or later – but odds are you didn’t learn much about it from your parents or in school. Everyone knows it’s important, but it seems complicated and challenging. It’s no wonder retirement planning tends to arouse anxiety. Journalist Rob Lieber cuts through the complexity to provide a clear, reassuringly simple outline of steps, aimed at Americans, to help you plan for your financial future. While never giving financial advice, getAbstract recommends this article to anyone who’s been procrastinating about saving for retirement or who is just unsure how to get started.

In this summary, you will learn

  • When to start saving for retirement,
  • What constitutes the best types of investments for your savings and
  • What annual tasks can keep your retirement savings on track.
 

About the Author

Ron Lieber is the Your Money columnist for The New York Times and author of The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money.

 

Summary

The essentials of saving for retirement are simple. The first thing to do is to start now. Plant the seeds of your savings as soon as you can. The earlier you begin, the more you’ll harness the power of compound interest and the more money you’ll have when you retire, given that you make ongoing savings. When you’re starting out, deciding how much to save doesn’t require complex calculations. The more you save, the more you’ll have when you reach your retirement date – but any amount is better than nothing. The important thing is to start saving now and to establish the habit.

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