Planning for Your Retirement

Retirement planning is essential for ensuring a comfortable future. It involves setting aside money during your working years to support yourself when you are no longer earning a paycheck. This article discusses various strategies for saving for retirement.

Start Early

The earlier you start saving, the more time your money has to grow. Compound interest can significantly increase your savings over time, making it crucial to begin as soon as possible.

"The best time to plant a tree was twenty years ago. The second best time is now." - Chinese Proverb

Retirement Accounts

• 401(k): Employer-sponsored retirement plan.
• IRA: Individual Retirement Account with tax advantages.
• Roth IRA: Tax-free withdrawals in retirement.