Tips for Saving for Retirement, No Matter Your Age

Saving money is not always easy, and saving money for retirement is sometimes the most difficult financial hurdle of all because of its haziness as something that exists off in the distant "FUTURE" (Insert Twilight Zone Theme here). As we get older, different financial obligations arise, even further complicating the matter.

For example, in my twenties, my focus is a balancing act between saving for retirement and more short-term goals like putting away money to go back to school or saving for a down payment. Given my age and the (depressingly) long stretch of time until I retire, I have time on my side and can allocate my money aggressively, to more risky investments. The same is not true for someone perhaps in his forties, also concerned with retirement, but with a family to help support, kids in school, and a mortgage.

Bankrate addresses the need for differing approaches for saving for retirement in a segment that gives targeted tips, no matter what age you are. I read the tips for those in their twenties and thirties and found my own approach to be spot on their recommendations, so I heartily suggest you take the time to check out what BR has to say.

Check out your age bracket here: (Don't worry, I won't tell what link you clicked!)

20s
30s
40s
50s+