9 Reasons Many Americans May Never Be Able to Retire

4) They Don’t Start Saving Early Enough

Many people don’t think about saving for retirement until they’re just a few short years from retirement age. If you start saving earlier, though, you could end up with a nice nest egg. For example, let’s say you begin putting away about $20 a week when you’re 25 in an account with a seven percent annual return rate. If you retired at 65, you’d get back about $215,000. The later you start saving, the harder it is to catch up. However, late is better than never, so even if you are just a few years from retirement, it’s a good idea to start saving now. Many Americans don’t realize how much they can save by simply putting a small amount of money away each week or month.