"Saving for retirement is perhaps the most important aspect of anyone's financial life. After working hard and going through life's challenges, you deserve a comfortable retirement. Of course, the road there won't be a nicely paved one and you're going to go through some ups and downs. But it's important to start saving now and keep going regardless of any bumps in the road."
"Into his 90s, Warren Buffett remains one of the most successful and influential people in the world of finance. He's also one of the wealthiest people in the world. But despite being a billionaire, Buffett is known for giving practical advice that anyone can use to begin saving for a comfortable environment today."
"While speaking to a group of college students, Warren Buffett said, "The biggest mistake is not learning the habit of saving properly." Unfortunately, many people fail to make saving become a habit. And thus they miss out on maximizing their retirement savings by the time they reach their Golden Years. Buffett believes savings should be considered something like another monthly bill to factor into your budget. You can take a look at your budget and determine an amount you can comfortably put away for savings. No matter how big or small."
Begin saving for retirement as a priority and start now, accepting that the path will include ups and downs. Form saving as a regular habit by treating it like a monthly bill and automating transfers from checking to savings. Small, consistent contributions grow over time through compound interest. Shop for high-yield savings or money market accounts to build an emergency fund and maximize growth. Many people miss out by failing to develop saving habits and thus underfund their retirement. Guidance also emphasizes the importance of staying invested despite market fluctuations.
Read at 24/7 Wall St.
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