The importance of saving early for retirement can not be stressed enough. In fact, taking the first available opportunity to save ensures that retirement is enjoyable, not a struggle. Most people need to start funding retirement accounts after getting their first job after graduation. It may be tight money wise, but saving something is better than doing nothing at all.
When you start your retirement planning, remember that you don’t have to go crazy right off the bat. Take advantage of an employer’s 401(k) offerings as much as possible and let the automatic withdrawals build the account. There are many mutual funds that allow you to start investing with a relatively low amount of money while requiring equally small contributions on a regular basis. Mutual funds take advantage of the stock market’s upwards trend over time, creating a nice return on a small investment. Increase the amount of money you put into your accounts over time, especially as pay raises happen.
These efforts may seem small, but they all add up and become a boon when you retire. You may even be able to keep investing what you have after you cease working if your retirement planning was efficient.