I have plenty of time to save for retirement

You might think that when you’re in your 20s and saving for retirement is definitely not a priority. But it should be, at any age, because time is of the essence. You might think you have plenty of time to build your nest egg but the earlier you start, the better.

“Open a retirement account as early as you can and faithfully contribute towards it,” suggests Hudson. It doesn’t even matter if it’s only a small percentage of your salary; the longer your money works for you, the better for your financial security in retirement.