Beverly B. Media and Communications

Smart ways to save for retirement at every age

635568556940598378-retirement-over-timeNanci Hellmich, USA TODAY

Most people worry about having enough money in retirement. But you can roll up a substantial nest egg — even if you don’t make a lot of money during your working years.

The keys include learning to budget early in life, sticking with it, saving aggressively during your peak earning years and investing your money wisely and diversely.

Advice for 20-somethings

• Develop healthy financial habits, Khalfani-Cox says. That means learning how to budget and how to spend less than you earn. These healthy habits will put you on the road to saving for retirement later and help you financially throughout your life, she says. Read More

For 30-somethings

Do a budget. Moss recommends that people try to allocate 50% of their income to living expenses; 30% to taxes and 20% to savings. That savings rate may seem high, but couples who save that amount think of it as normal, he says. If you can’t save 20%, then at least save 10% and try to work up to 20%, he says. Read More

For 40-somethings

Save aggressively. Many people in their 40s are headed toward the peak period for earning and saving, Khalfani-Cox says. “This is the all-business time. You should be thinking about accumulation.” Read More




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