In recent past, a lot of articles have been doing rounds on the internet advising folks in their 20s to start saving for their retirement, Nay, well who does that? We are not trying to drive you away from logic or prudent decision making but in fact, we have got logic to back our argument.
So read for yourself and know Why Saving for retirement in your 20s is actually a bad idea?
The very idea of saving for retirement is flawed. If you plan your retirement early you would try to save, which means not going out with friends, worrying about bank statement. This way, you would get too busy watching your savings instead of savoring your youth.
We get a lot of elderly advice on savings but a lot has changed between our generations and that of our parents. They wanted to save for kids while we don’t want to give up on our younger self. We’re on different schedule, different path and not to mention totally different savings plans.
- When you’re obsessed about your bank statement, you’re not making any money
When you carry on with your life which revolves around your retirement fund, you should resign now. You can’t make a mark in the world in case you’re too frugal to live in it.
- There is no point in making money if you don’t give yourself the luxury of enjoying your money
When you’re saving for yourself, you’re declining to go hard at life. Individuals who are saving in their 20s are individuals who don’t set their sights high. They’ve given up the race and have settled for less.
Your 20s is not the time to be feeling content or restraining yourself; it’s an ideal time to put everything at stake. $200 a month wouldn’t make the dent that a $60,000 increase in salary will in the wake of spending evenings out networking.
- When your savings give you some kind of solace, you will lose the spark in reaching out for the best
You’d be surprised at how over-cautious individuals get happy with only a couple of thousand in the bank. This isn’t an ideal opportunity to take a defensive stance – it’s an ideal opportunity to give in everything you have and hope for the best.
- When you carry on with your life by numbers, you deny yourself all adventures
What noteworthy experience does money in the bank give you? How happy can individuals end up sitting at home, watching their limited funds gain interest?
Life is to be lived, not viewed from within your condo.
- When you kick the bucket, you can’t take your money with you
When you’re mindful of your mortality, it makes spending even simpler. The individuals who don’t get ready for what’s to come next can’t be making arrangements for their passing.
- You will regret not enjoying your life at Retirement
When you’re 40, you’re not going to think back on your 20s and be thankful for the couple of thousand you spared. You will be brimming with grieve of not having experiences you could have easily had, the people you didn’t meet and the fun you didn’t have in light of the fact that you were too stressed over a future that traveled every which way.