5 Time-Tested Tactics to save for Retirement

5 Time-Tested Tactics to save for Retirement
By the Editors of Kiplinger's Personal Finance

Follow our stategies to achieve financial Security, then reap the rewards.

For the 70th-anniversary issue of Kiplinger’s Personal Finance we distilled our best advice to show you how to build, protect and enhance your wealth throughout your life. Start with these tips to save more for retirement:

Save Early and often. The sooner you start to save, the easier it will be to amass a comfortable nest egg -- thanks to the power of time and the magic of compounding. A 25-year-old who saves $450 a month in a tax-deferred retirement account and earns an average yearly return of 7% will have about $1.1 million by age 65. If the same investor waits until age 35 to start saving, she’d have to sock away $950 a month to reach roughly the same balance by age 65.  Read Full Article

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