Of course investing is difficult for individuals who are struggling with their financial situation; they may need to control their expenses, delay their retirement etc. However, if you ARE financially capable, it's crucial to make the most of your early career to invest towards retirement. Those who are still young and financially capable should be able to take on a more aggressive investment portfolio with greater risks/rewards. Due to the reduced number of remaining working years in ones older age, the level of risk (and therefore rewards) that one can take will reduce substantially. Concl: The earlier, the better.
They can have so much more money if they start in their 20's. They don't even have to save much, they just have to do it correctly. They need to put a decent amount of money away every month. They need to stick with it and do it every month.
The current rates for job instability are so high, people get laid off every time because of the changing economy in different countries. The best way to prepare for the future would be to start saving early so as to be on the safe side.In addition,Investments that are made wisely and early can grow and bring in more profits and benefits in future.
When one looks at the demographics of Social Security, the only conclusion that can be reached is that younger generations will probably never see the money that their grandparents saw. Population-wise it just doesn't work out. We could change this by encouraging more immigrants to move here and contribute. Until then, everyone better start putting money away.
A huge chunk of the American population lives in poverty and another large chunk barely has enough to scrape by. It is easy to say you should be saving but the majority of people aren't even offered the opportunity to do so. I can't even afford health care so what's the point in saving for retirement.