If it's relatively early in your career, planning for retirement may not seem important. You have bills to pay after all. If you're having trouble starting, work on contributing just 1% more each year.
Waiting until later in your life to save is one of the biggest money mistakes you can make. Although it seems like you can't afford it right now, you'll be in worse shape if you don't start somewhere.
Good Financial Cents share a bunch of financial tips for millennials. Starting this year, try saving just 1% more towards your retirement. Increase that contribution by 1% each year—so your first year is 1%, the second year 2%, and so on. If your employer has a 401(k) with matching contributions, that's a great place to start. Otherwise, check out an IRA.
If you keep this strategy going, you'll eventually max out your ability contribute to your retirement. By then, saving will be a habit for you. You'll also enjoy early investing and compound interest. Hit the link for other financial tips.
29 Actionable Financial Tips That Millennials Need to Take Right Now | Good Financial Cents
Photo by American Advisors Group.