As the economy gets worse and the cost of living gets higher along with education costs, I think the earlier you can start thinking about retirement the better. I plan on teaching my kids how important it is to start saving young so that you do not have to work your whole life.
Now more than ever, we should all situate ourselves financially and set up plans for the future. Because lets face it, we do not know what is going to happen tomorrow. We could be in a depression and we will not have anything to support us if we don't. And the same goes for retirement.
With the rising costs of medical care, retirement is an important aspect to start thinking about at younger age. The significant rise in the cost of living is making it more difficult for many people of retirement age to retire at the suggested age of 65. By starting at an early age, for example 22 years old, many have completed their college degrees and are now working in the profession of their choice. Many companies offer a 401K plan, but there are also options through banks and other financial institutions to begin putting money in an interest earning account. By saving $50 each month from 22 years old to the average retirement from a company, generally after 20 years; each person would have saved enough money to retire well before the workforce retirement age of 65 with enough money to live comfortably on for the remainder of their lives.
No, I dont think that we should start thinking about retirement while were young because we still have a whole life ahead of us and the last thing we want to do is rush it by us although we should have a plan in place so we can makesure out wants are met.