retirement saving

Retirement saving involves setting aside money during your working years to support yourself after you stop working. This can be done through various accounts like pensions, 401(k)s, or IRAs, where your contributions grow over time through investments such as stocks or bonds. The goal is to accumulate enough funds to maintain your lifestyle once you're no longer earning a regular paycheck. Starting early and regularly contributing can significantly increase your savings thanks to compound interest, which means your money earns more money over time. Effective retirement planning ensures financial security and peace of mind in later years.