How’s your retirement looking?
My understanding is that there are lots of young people who visit Sitepoint, people in their teens and twenties.
I hope that you save 20-50% of every dollar you earn.
It may seem hard with rent and food — but it only gets harder later on.
If you start saving now and investing wisely, you may be able to retire long before your colleagues.
I won’t bore you with a lecture about how money compounds, and how $1 saved in your twenties can be worth lots more than $1 saved when you are 40 or 50. You know that.
Why do we work? Lots of reasons. But work is about how we use our life energy, and what we do with that energy. If you want to be able to choose whether you work or not someday, please start saving up now — in a big way. It takes discipline and commitment, but is worth doing.
Please read the classic book Your Money or Your Life if you want to learn a new way to think about money. Read also The Automatic Millionaire, so you can see the powerful effects of saving.
I’m lucky in that I saved enough money early on and made some smart investments in real estate and stocks — as well as my own businesses. I hope you are equally “lucky.”
Take a moment and figure out how much you need to save every month to have $2 million by the time you are 55. Then start saving that amount.