Retirement Myth #1: I Can Wait Until I’m Earning More To Save For Retirement

The reality is if you start later in your working career you will need to save more money than if you had started younger.

The key years for saving have passed you by if you start in your 40s. Your best income producing years may still lie ahead but at 40 you have many more demands on your income compared to your 20s. You could have kids needing braces, college tuition. You may have kids from a first marriage. Then there is really no money left over for retirement savings.

Continue reading source article at CBSnews.com.

Damian J. Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755