Inc.

BALANCE SPENDING NOW WITH SAVING FOR LATER

Get ready for big life expenses, including retirement, with these tips
FAMILY PLANNING Almost half of Americans prioritize saving for their kids’ education over their own retirement, according to Personal Capital.

WHEN IT COMES TO RETIREMENT PLANNING, timing is everything. You have to do some things as early as possible—like starting to put money away for retirement—but you also have to consider when to take on big pre-retirement expenses.

Those can include starting a family (with all the daily and college tuition expenses that entails) or starting a business. Perhaps you want to do both. But that doesn’t mean you should let your retirement planning slide.

“The key is to start saving early,” says Ric Edelman, co-founder of advisory firm Edelman Financial. “The earlier you start, the more compound interest can work for you.”

Indeed, if a 25-year-old saved just $250 per month, he

You're reading a preview, sign up to read more.

More from Inc.

Inc.2 min read
A Tip Of The Cap To Bollman
One day in 1960, the schools closed in Adamstown, Pennsylvania, in Lancaster County, as much of the population spilled out onto the streets to greet visiting royalty. Roy Rogers, America’s famous singing cowboy, had come to town to personally thank t
Inc.2 min read
Sinking About the Future
Elkay Manufacturing has endured for a century in an unforgiving, cyclical industry by innovating relentlessly around the ordinary.
Inc.15 min readFood & Wine
Pioneer Woman
Ariane Daguin has spent almost 35 years building the artisanal food company D’Artagnan. Along the way, she’s transformed how Americans think about food. And there’s still so much for her to do.