03/29/2024
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By: Brenda Brown, Social Security Public Affairs Specialist in Fayetteville, NC

When most people begin their career, retirement is the farthest thing from their mind. Instead, they focus on trying to purchase a home, start a family, or perhaps save money for travel.

Retirement seems so far away for many younger people that they delay putting aside money.

However, it is very important to save for the future — if you want to enjoy it.

An employer-sponsored retirement plan or 401(k) can be a useful way to set aside funds for retirement, especially if your employer offers matching funds on what you invest. If you do not work for an employer that offers this type of plan, there are many other plans designed to help you save for retirement.

From solo 401(k) s to traditional and Roth IRAs, there are programs designed to fit a multitude of budgets. The earlier you start to save, the more funds you will have ready for retirement.

In addition to traditional programs, the U.S. Department of the Treasury now offers a retirement savings option called myRA. There is no minimum to open the account, you can contribute what you can afford, and you can withdraw funds with ease. To learn more about myRA, visit www.myra.gov.

And, as always, there is Social Security, which is funded by taxes you pay while you work. To get estimates of future benefits and check your earnings record for accuracy, you can create a my

Social Security account at www.socialsecurity.gov/myaccount.

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