There is a saying that a penny saved is a penny earned. But the reality is a penny saved today is worth a penny more. This means irrespective of your age, beginning a savings plan today is better than waiting till later.
Many young people, particularly those aged between 25 to 30, do not have retirement savings as they feel they have more years ahead of them to retire so they could hold on for now. But the fact is, as soon as you start earning income, it is never too early to start putting aside some additional funds you can’t touch for some time.
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Experts say the more you save and the earlier you do so, the better your money gets enough time to grow. Also, if you start young and are effective, you may be able to retire early. Here’s how to go about it.