Myth 11: I Have Other Financial Priorities to Take Care Of
Buying a home, paying for college, or paying off student loans and credit card debt may appear to be higher priorities right now, depending on your age and life stage. However, retirement contributions need to be a part of your financial plan regardless of where you are financially — even if you are only making a modest 1 percent contribution, that’s money that is going towards your future. Keep in mind that most retirement savings accounts are tax-deferred so you can “protect” this money from income taxes as you build your future.