The Retirement Problem: Why to start saving now. By: Lauren Wederich [email protected] Why Start Saving Now?. 54% of workers have less than $25,000 saved, excluding the value of their home and any defined benefit plans.
If I wait 10 years, I loose almost half my investment
If I wait 15 years, I will not have nearly enough to retire on.
Any amount over $5,000 cannot be saved in a Roth IRA account. Therefore, the extra savings would need to go in a separate account which would include tax deducible when withdrawn for retirement. This means you would pay a lot more money to the government for tax than if the savings occurred in the Roth IRA account. Proving it saves to start saving sooner.