How to Save for Retirement at 30 | Full Details

How to Save for Retirement at 30


Retirement is supposedly a time we are meant to be enjoying – off work. And not a time to run around “again” to get funds. This post will give an highlight of 7 ways to prepare and save for retirement. Enjoy reading.


If you have a saving plan, whether for retirement or another reason, keep saving! Saving is definitely a rewarding habit. If you’re not saving yet, you can still start today. You don’t have to start with a big figure. Start small and increase it gradually. The sooner you start saving, the more time you have to grow your money. Get a saving plan and stick to it.


Retirement Needs

Retirement can be very expensive. Experts estimate that you will need 70 to 90 percent of your preretirement income to maintain your standard of living upon retiring. If you don’t start now, you mightn’t get a better time. Planning ahead your retirement is pivotal.

Employee’s Contribution

Your employee should at least be aware or have an idea about your retirement saving plans. So he/she can in a way, help you maximize it; such as reduced taxes, automatic deductions etc. It would make things easier.

READ ALSO: How to Invest in Real Estate

Avoid “Unnecessaries”

Make sure to avoid every thing you deem as unnencessary even with time. As time goes, there are certain things you will have reduced interest for. Be careful of how you spend and what you really spend on. It will halp you maximize your retirement savings

Consider investments

Know how your savings or pension plan is invested. Learn about your plan’s investment options. Put your savings in different types of investments. By diversifying this way, you are more likely to reduce risk and improve return. Your investment mix may change over time depending on a number of factors such as your age, goals etc.


Be Firm

Be firm not to touch your retirement savings. If you withdraw your retirement savings, you’ll lose the principal and the interest. Plus you may lose tax benefits or have to pay withdrawal penalties (charges). If you change your job/working place, keep your savings according to the way you have planned to save.

Seek Knowledge

The above steps are meant to point you in the right direction. You must know that you’ll need more information. If possible, get a financial adviser. Ask questions and make sure you understand the answers. You will be able to avoid making mistakes and limit risks regarding your saving plans.


Putting money away for retirement is a habit we can all live with. A stitch in time saves nine. It’s not too late and it is not too early. The earlier the better. We hope this post will motivate, help, inform, boost your knowlege regarding how to save for retirement.

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