Subscribe to our newsletter. Nobody's too young to start saving for retirement. Sock away a few dollars from each paycheck. The power of compounding is magnified the earlier you start saving. Assuming you increase your monthly savings as your pay increases, you can build a substantial retirement nest egg.
Nobody's too old, either.
While the average life expectancy in the United States is 75.5 years, you might live longer. It's likely you won't work all those years, so save as much as you can afford to now. And remember, your savings will continue to grow after you stop working, as long as you only withdraw what you need for immediate expenses. T he National Association of Securities Dealers provides a good worksheet . I also like the simple, yet thorough calculators provided by Central Pacific Bank.