[Starry]

One should start saving for retirement as soon as possible because compound interests help your money to grow. I started saving for retirement in my late 30s.
Have you started saving for retirement?

[nela13]

Yes, I have already started to save for my retirement. I have an retirement account and so does my husband. We know that our pension will be lower than our salaries, so it is better to have some extra money to help us in that phase of our lives.

[Vehlijanta]

The best time is to start when we earn our first income

[augusta]

I'm not saving yet but I know about saving for retirement. I will try to do so when I'm ready.

[Treborika]

I have not yet started saving for my retirement. This is simply because I don't have any job right now and I don't have any money that I can save

[friendociate]

I think most American employers require employees to pay a fraction of their paycheck to Social Security, which pays a monthly amount to ALL retirees who qualify.

I didn't spend long enough 'employed' to qualify in the usual way, so I don't know ... you might ask @OldGuy or @OldMan

[Shortie]

When it comes to saving for retirement I would definitely advise doing it as soon as possible if you are able to. That is something I honestly regret not doing, to be honest. I was in a mentally abusive relationship for a long while up until 2015 when I finally got out of it and he then had control of most of the money so I couldn't really save for my retirement at that time. Since I got out and started handling everything myself though, I have had to build my and my kids' lives back up again so being able to save for retirement has been difficult, I am hoping that the things I am doing now will help me to start saving for retirement.

[kataomoi]

I started in my late twenties which I consider to be late. If I started in my teens, my retirement account would have a lot more due to compound interest. Right now I'm playing catchup and hopefully I'll still end up with a good amount when I retire.

[oldbuddy]

I think most American employers require employees to pay a fraction of their paycheck to Social Security, which pays a monthly amount to ALL retirees who qualify.

I didn't spend long enough 'employed' to qualify in the usual way, so I don't know ... you might ask @OldGuy or @OldMan

Not only that, the employer ads to that deposit with his tax amount every time. It's not enough to live on (unless you are debt free) but it takes care of our basic needs. I retired in September of 2000 and I am still saving for my retirement every day.

[friendociate]

I started in my late twenties which I consider to be late. If I started in my teens, my retirement account would have a lot more due to compound interest. Right now I'm playing catchup and hopefully I'll still end up with a good amount when I retire.

I hope our economy evolves to 'a form of Socialism' ("from each according to their ability, to each according to their need' ... with forces ensuring that no one's greed overtakes them) so that "starting to save too early" would've only meant you had MORE extra to share with the other retirees

[Mika]

As soon as you start earning. However, I made a mistake. When I started earning, I told myself let me enjoy life, saving can take backseats. However, when I started saving my bills were so high that I could not even save $10 per month.

[augusta]

Can you start saving just a percentage of your money then go ahead with it and you can keep increasing as the month go by

[oldbuddy]

I started in my late twenties which I consider to be late. If I started in my teens, my retirement account would have a lot more due to compound interest. Right now I'm playing catchup and hopefully I'll still end up with a good amount when I retire.

I hope our economy evolves to 'a form of Socialism' ("from each according to their ability, to each according to their need' ... with forces ensuring that no one's greed overtakes them) so that "starting to save too early" would've only meant you had MORE extra to share with the other retirees

I am sorry to hear anyone propose socialism in any form, simply because I have lived in this world long enough to see that it does not work. It breeds a lazy people that underperform enough that everyone suffers except Joe Biden no matter what you call him. I work hard to produce more for myself and my family and do NOT want to be told who I should share my abundance with. That should be my decision and mine alone, not some psuedo dictator trying to dumb down the productivity of the entire system.

As for our Forum Name, it's not the name that determines much of anything, it's what you do with it over time. I have used Oldbuddy for at least 20 years and take pride in what it means to many others as well as myself, so there is no way I would consider changing it other than to find more ways every day to add to the collective meaning to myself and those I can help in some way voluntarily.

[Emmaojo]

I would say one should start saving at his early age when he gets a good paying job that's fixed because no one knows when he or she won't be able to work anymore as a matter of health.

[nela13]

I think most American employers require employees to pay a fraction of their paycheck to Social Security, which pays a monthly amount to ALL retirees who qualify.

It is the same in my country, I know one day I will have a retirement check from social security but the amount will be lower than our salary so it is better to have some savings that will help us to keep our life standards.

[friendociate]

I hope our economy evolves to 'a form of Socialism' ("from each according to their ability, to each according to their need' ... with forces ensuring that no one's greed overtakes them) so that "starting to save too early" would've only meant you had MORE extra to share with the other retirees

I am sorry to hear anyone propose socialism in any form, simply because I have lived in this world long enough to see that it does not work....

That's why I stated the exact principal and clarified that we'd have a group to enforce it. I know you've probably associated it with 'nightmares-etc.'--the way we've all done with Hitler, Nazis, Demons, Witches, Televangelists & all sorts of other always-terrible-never-justified types--

but I think of it more as a kind of Christianity ... you CAN believe & do things Christ's way & encourage others to do the same if you want; if it's not what you want, I can't make you do it ('you can lead a horse to water, but you can't make it drink')

[oldbuddy]

I hope our economy evolves to 'a form of Socialism' ("from each according to their ability, to each according to their need' ... with forces ensuring that no one's greed overtakes them) so that "starting to save too early" would've only meant you had MORE extra to share with the other retirees

I am sorry to hear anyone propose socialism in any form, simply because I have lived in this world long enough to see that it does not work....

That's why I stated the exact principal and clarified that we'd have a group to enforce it. I know you've probably associated it with 'nightmares-etc.'--the way we've all done with Hitler, Nazis, Demons, Witches, Televangelists & all sorts of other always-terrible-never-justified types--

but I think of it more as a kind of Christianity ... you CAN believe & do things Christ's way & encourage others to do the same if you want; if it's not what you want, I can't make you do it ('you can lead a horse to water, but you can't make it drink')

It's having a group to enforce it that makes it Socialism and not Christianity. Christ did not need one to attract followers, the group itself was the only enforcement necessary and it came from within each individual when they accepted his teachings.

[friendociate]

Christ did not need [an enforcing group] to attract followers, the group itself was the only enforcement necessary and it came from within each individual when they accepted his teachings.

So 'The 12 Disciples' were "12 individuals who each individually chose which anointed words to obey?"

Maybe, but where would Christianity be without them? (the ones who became apostles ... including one who never met Him while He was alive)

[augusta]

As soon as you can even today. Everything is possible if we are determined to do it

[Nii]

It's recommended to start saving for retirement as soon as possible, ideally in your 20s or 30s, to take advantage of the power of compounding and have a comfortable retirement.