Mistake No. 2: Waiting Too Long to Start Saving for Retirement
“When you’re young, retirement seems like it’s a long way off,” said Roth. “It is. But if you’ll start saving regularly when you’re in your 20s (or now, if you’re older), you can set yourself up not only with a secure retirement but the freedom to make other important decisions without worrying whether you can afford to make the moves. If by starting early you’re able to amass a large wealth snowball, that gives you the freedom to quit a lousy job, move to a new city, take a year off to travel, whatever. But if you wait to start saving, you place yourself at the mercy of the whims of fate.”