Everybody dreams of retiring in their 60s and enjoying all the things they’ve put off for the last few decades. Unfortunately, the reality is that it takes a lot of planning to be able to retire at all, and many people never get that chance. If spending your days away from the office and in the sunshine is important to you, check out these tips to save for retirement now.
1. Get the Most Out of Your 401(k)
If one of the perks of your job is access to a 401(k) plan, now is the time to begin using it. These plans allow you to add money to your retirement savings prior to paying taxes while Roth 401(k)s add money after taxes. Either way, saving money now helps to set you up for the future. Some employers match the money you add to your 401(k) up to a certain percentage, so do your best to max out that benefit. While it may give you a bit less to work with now, the free money from your employer will be helpful in the future.