6 second take: Don't know when to start saving for retirement? Considering borrowing from your savings? This video breaks down some common errors.
Saving for retirement can be a tricky process, even without the complicated jargon and necessary paperwork. Knowing when to start saving, how to balance savings with living expenses, and whether or not to borrow from a retirement savings account can all be incredibly difficult.
Given that most families have little to no retirement savings, according to the Economic Policy Institute, it can be hard to know how to prepare properly, and it’s easy to make mistakes along the way.
Thankfully, there is no need to worry about when you should start saving for retirement. Here are four tips to help you avoid retirement mistakes so you can protect your hard-earned savings.