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When is it the right time to start investing in retirement?

Started by Natalia L.
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Natalia L.

I recently came across an app called Acorn, which said you should start investing in your retirement early. This led me to wonder if 1, Acorn is reliable? and 2, when is the right time to start investing in retirement?

Deleted user

I recently came across an app called Acorn, which said you should start investing in your retirement early. This led me to wonder if 1, Acorn is reliable? and 2, when is the right time to start investing in retirement?

Generally speaking, the earlier you start saving and investing for retirement, the better. In terms of compounding, time plays a huge role in the growth of your savings and investments.

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Manuel M.

Yes, the power of compounding interest makes your money grow like you couldn't imagine. By having your Retirement Account in an IRA or a Roth IRA you also get tax benefits. Transamerica Retirement has a good retirement account where you can invest in Mutual Funds. Fidelity also has a good account.

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Elena B.

I do not have an Acorn account but based on the information from there website, I would not sign up due to the membership fees. As for retirement savings, it is best to start as soon as possible as compound interest and time will be very important factors in growing your savings. Look into if your employer offers a retirement plan or match contributions. Otherwise you could open an IRA either traditional or Roth. Always be sure to know all of the fees associated with any account you choose.

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Michael M.

Yesterday or even last year. Seriously put aside and invest for your retirement early, otherwise it is almost impossible to save enough to really enjoy your retirement.

Deleted user

Start saving as soon as you can,its never to late to start. Every little bit helps towards the goal.

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Michael M.

In reality, people really need more money in retirement than before. You retire means you have more time to go places and do things. Youu cannot start saving too early.

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