How to Save for Retirement in Your Early Career | Guiding You Forward

In this episode of Mountain America Credit Union’s Guiding You Forward video podcast, we talk with Stewart Campbell, associate vice president of wealth management operations.

If you are in your twenties or thirties, it may seem like the end of your career is way down the road. And it is! But that doesn’t mean you shouldn’t begin planning and saving for your post-working years now.

In this episode, you’ll learn:

• When to start saving for retirement.

• How to get started.

• Types of retirement accounts.

When it comes to funding your retirement years, the reality is that every dollar you save now is a dollar  you won’t have to save later. The more time you have to let your money grow, the quicker you’ll reach your goal. But how do you make plans for what will happen 30 or 40 years into the future?

Early in your career, the goal is not to plan for specific events, but to stash away as much money as possible. Build a habit of saving to establish a foundation that will serve you well throughout your life. No matter what your retirement years look like, you’ll have to find a way to pay for it!

What type of retirement account is best for young savers? The answer depends on you and your lifestyle. Take the time now to review your options and discuss them with a financial advisor. Then make a decision about what will work best for you.

Learn more about some popular retirement accounts like these:

• 401(k)

• Traditional IRA

• Roth IRA

• HSA (Health Savings Account)

Many people don’t realize that their HSA can be used as a retirement savings account. Actually, you get triple tax savings with this option.

Watch our video to find out how that works and so much more!