Saving for Retirement

Saving for retirement involves setting aside money over your working years to ensure financial security after you stop working. It typically includes contributing to retirement accounts like 401(k)s or IRAs, which often benefit from tax advantages and employer matches. The goal is to accumulate enough savings to cover living expenses, healthcare, and leisure in later years. Starting early and saving consistently allows your investments to grow over time, thanks to compound interest. Effective retirement planning balances saving, investing wisely, and adjusting your strategy as your income and needs change, helping you maintain your desired quality of life after retirement.