How to Save for Retirement
It's never too early or too late to start saving for retirement. There are certain considerations, such as choosing the right retirement account types and knowing approximately what percentage of your income to save for your age, that can help you be successful.
The primary reason to save for retirement is to help provide financial security later in life. Unless you expect to win the lottery or inherit millions of dollars, you'll need sufficient savings to pay living expenses during retirement.
It's possible you may have sources of income in retirement, such as Social Security, pensions or part-time work, but these may not be sufficient to meet your entire income needs.
If you're looking for more information on how to save for retirement, here's what to keep in mind.