Waiting to Save for Retirement? Here's How Much It'll Cost You
When you're faced with many pressing financial obligations, especially during the coronavirus crisis and 2020 recession, saving for retirement may seem like something you can worry about later.
Unfortunately, if you procrastinate on investing for your future, you'll only make it a lot harder later to save as much as you need. Missing out on even a few years of financial gains that come from having your money invested means you'll need to increase contributions to your retirement accounts substantially in the future since you won't be taking advantage of the magic of compound interest for as long.
So exactly how much will it cost you if you wait to start saving for your future?
Source Fool.com
