Bangalore: People tend to place less value on a reward in the future than a benefit today. Time is of the essence and this holds true even for retirement savings. Everyone is aware of the importance of retirement saving, but they fail due to certain reasons mainly due to insufficient funds. People in the age bracket 35 to 44 are most likely to overspend, to have debt and worry about it, and are the furthest behind on planning and saving for retirement. They consider children’s education as more important than retirement funds. Currently more Americans are finding themselves in their 50s and 60s with practically no money saved for retirement.

Investors of all ages have suffered. But for those close to retirement, it's been especially tough, because they're faced with taking distributions from investment portfolios. If you are faced with such dreadful situations of no retirement saving then you need to make a plan for the next 15 to 20 years

Start Saving Right Now

The second you earn an income, you should put some money aside for retirement. It isn’t that hard, just make saving a priority. The younger you are, the longer time you have to save, thus to reach a certain amount you have to save less each month. To reach the same amount when you start ten years later you need to put in much more each month. If your employer provides with a retiremnt plan, then grab this opportunity. Make sure you at least save enough to qualify for their matching contribution.