The Big Problem With Putting Off Retirement Planning Until Your 40s
When you're young, retirement seems far away -- too far away, in fact. You still have decades left in the workforce before you can even think about kicking back and enjoying more than a few weeks off at a time. But though the hours in the office might crawl by, the years seem to come and go in the blink of an eye. Before you know it, you're halfway to retirement.
Unfortunately, most people wait until then to begin planning for their senior years. Near-retirees (those planning to leave work in the next 10 to 20 years) didn't begin seriously planning for retirement until about 42, according to a study from the Empower Institute, while current retirees reported that they didn't begin planning until 47, on average.
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Source Fool.com
