Practice - Retirement Planning

5 Critical Financial Planning Tips for 20-Somethings

by: Larry Barrett

Tuesday, April 24, 2012

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You’re never too young to start planning for your retirement. In fact, most financial planners bemoan the fact that clients often wait too long to start saving for their golden years.

This procrastination can result in more aggressive (risky in other words) investment strategies that can leave older investors more vulnerable to short-term fluctuations in the market that diminish their retirement savings.

Here’s an interactive slide show counting down five things 20-somethings can do today to ensure they have the means to retire in the style when the time comes.

But starting early and sticking to a sensible, long-term retirement saving plan not only helps younger workers better prepare for retirement, it sets the foundation for sound economic decision-making throughout their lives.

Source: RBC