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Should millennials plan for retirement early?
Should I plan for my retirement now?
Everyone is telling me to start investing early for my retirement.
But I am only 20 years old.
Like this, so many thoughts were revolving around my mind a year ago.
Does everyone have to plan their retirement once they start earning?
It depends. It totally depends on you.
🎯If you are in a job and do not have any important short term financial goal, you may think of saving for retirement.
🎯If you are in a business/startup, you should focus more on building enough (3 years) emergency funds.
Once your business gets stabilise a bit and you are able to take regular monthly income, you can think of retirement.
🎯If you are still in your early 20's (like me), you can delay your planning and save on major short term goals that can have a major impact on your life.
You can start saving for your study fees, build some capital if you want to start a business.
If you don't have any major goals right now, then invest without any goals. But don't let your money stay idle.
IMPORTANT IS TO START.
As parents don't want their children to sit idle and want them to do something. You should behave the same way with your money.
In personal finance, personal is more important than finance. Don't ever forget that.