Most of the people I knew when I was in my twenties thought retirement was for old people. Those people already “in the home” or getting ready to go into the old folks home. People who were 60 or so.
I was a little different, since I started thinking about the day when I would not have to go to work every day, when I was in my early twenties and working in a grocery store. And I remember my cousin retiring when he was in his early forties. I was just a teenager, but I asked my Dad what that meant – being retired.
It meant, my Dad told me, that my cousin Tom was probably all set for the rest of his life. As it turned out, Tom’s wife got a brain tumor and died about 15 years ago. But before she died, I remember Tom saying he was glad he retired when he did because it gave he and his wife all that time to be together. They had a great time and lived life to the fullest.
How about you? Are you around twenty years of age? If you are, retirement may be the last thing on your mind too. With that said, it should be at least towards the forefront. Why? Because the amount of money that you are able to save throughout your lifetime can have a significant impact on your future, the amount of money you have, and how you live until you die. Do you really want to be homeless or living with family when you should be able to support yourself? Continue reading Saving for Retirement at 20 Years Old