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Did you start saving your money when you first started working? I got mad when I got fired from a job and I was broke, so I cashed in my 401k, and that was the worst mistake of my life. It was a great party weekend in Vegas, but after I was broke with nowhere to go. Bad move looking back.
But some people don't ever save their money. That's a bad place to be when you get older, because you don't want to work for someone the rest of your life now do you?
New research reveals Americans are rethinking the money side of major life milestones. While 83% say there’s no set age for these goals, 45% admit they didn’t prepare financially early enough. This is where a lot of us are. Especially after 2020 when COVID hit and companies took back their 401k matches and stuff, because they were broke too.
On average, Americans think the ideal timeline is: start saving for retirement at 27, land your dream job at 29, buy a first home at 30, earn six figures by 35, become debt-free at 41, and retire at 58. Pipe dream, and this normally doesn't happen. My dad was right. I should have started way earlier.
Truth is, you can start now. You probably won't have as much as you needed to retire, buy a house, help with a kids college, but you won't have to work that job you hate forever.