From Slate Magazine · Ilyce Glink · · 50s
Why 23-Year-Olds Shouldn’t Fear Retirement Savings
23-year-olds can build retirement wealth without sacrificing life goals
In brief
23-year-olds can build retirement wealth without sacrificing life goals Retirement savings compound over decades and should not be abandoned early Originally reported by Slate Magazine.
Retirement confusion
A 23-year-old with great retirement benefits questions if saving is useful when they can’t retire soon
Co-worker comparison
They hear colleagues with decades of benefits still struggle to retire
Retirement timeline
They have 40 to 50 years to let retirement savings compound
Health priority
They should see a doctor for annual check-ups despite insurance costs
Homeownership advice
Buy smaller homes to lock in expenses rather than rent expensive properties
Financial confidence
They sound smart and savvy, so trust their instincts to save
Retirement myth
Being 23 is not the year of financial irresponsibility
The one thing
Retirement savings compound over decades and should not be abandoned early
