Myth 1: It’s Too Late to Start Retirement Planning
While it’s a good idea to be contributing to a retirement fund as early in your working years as possible, you can start putting away money for your nest egg at any age. One benefit of making contributions to a retirement account when you’re at least 50 years of age or older is your contribution limit increases. The IRS permits up to $6,000 in catch-up contributions for 401k, 403(b), SARSEP and governmental 457(b) plans as of 2017.