Three Reasons You Should Start Saving For Retirement Before You're 25

How far away is retirement for you? 10 years? 30? 40? Even if retirement isn’t for another 50 years for you, there are plenty of reasons to start saving up for your golden years as early as possible.

1.   You can reach retirement sooner: If you begin saving for retirement at 16 when you get your first job, putting away $2,000 a year for just 40 years, you could have around $560,000, assuming earnings grow at 8 percent annually.  And that's a heck of a lot more than you would have if you weren't saving anything at all. When you're young, you can invest relatively little for a short period and wind up with far more money than someone older who saves much more over a longer period. Seems like a no-brainer, right? Save a little now and reap big rewards later
2. Avoid Procrastination & be financially secure in old age: Start saving ASAP. There are plenty of ways to get yourself in the habit. If your job offers a 401(k), sign up. If you don’t have a company retirement fund, use a Roth IRA instead. Be aggressive with your investments, and put 90 percent of your investments in stocks; Stocks are interchangeably referred to as equities, since as a stockholder you own a slice of the company's value in the market, its equity.
3. More money = More time for the things you want to do and buy: Begin putting automatic deposits into an emergency fund, then you’ll always have a cushion for when things come up. You’ll never have to dip into your retirement savings to cover those unexpected expenses.

Remember, you should start your retirement savings right this second. If you contribute $100 a month, appreciating at 10% a year, you' could have over half a million dollars after forty years. Your most valuable asset is time, so make sure you use it.

To listen to 97.5 Y-Country’s Wild Bill and Honor’s CEO Scott McFarland talk about saving for retirement early, listen to the Mason Jar Monday episode below!

Three Ways To Trick Yourself Into Saving More Money!

I think that we can all agree that at times, we are our own worst enemy.  Don’t let that be the case when it comes time to starting to build your savings!  With these life hacks to trick yourself into saving more money, your savings will start building before your eyes!

1. It’s all about physics – that topic you covered in high school science called inertia can work to your benefit with savings, too!  Set your plan in motion using automated tools that take the thinking out of it and watch your savings continue to roll and move all on its own!  When you add the manual aspect of transferring money into your savings every month, the consistency can start to slack which is the opposite of what you want to happen.  One really great tool that Honor has to make this part a piece of cake are “It’s Your Change” where every purchase you make gets rounded up to the next dollar and that change automatically put into your savings!  We can also set up an automatic transfer from your direct deposit into your savings so you don’t even have to think about it.

2. Keep looking ahead – goals, goals, goals is what it’s all about.  Keep your sight set on the future and the goals that you set for yourself and it will make those thinner months where you really, really want to dip into that savings easier to avoid.  If you’re a visual person, post a picture of your dream state (whether that’s your ideal retirement destination, your next vacation spot, or that new car) on the fridge or someplace you will see it every day.

3. Get a raise? Use it wisely – Don’t slip into the pitfall of a spending spree with 

that next raise or bonus!  Redirect that addition to your monthly income directly into your savings and keep your budget the same, almost like you’re pretending you never got the raise to begin with.  This may sound weird, but the direct raise you will be giving your savings every month will really add up!

HINT!! – There may be a giveaway coming up this week!  If you want included in the fun (and a shot at $50!) be sure to keep up with Honor on Twitter @honorcu!

Listen to Honor's Scott and 97.5 Y-Country's Wild Bill talk about their tips to trick yourself into saving on this week's Mason Jar Monday! 

Source - http://time.com/money/3658298/how-to-save-more-money/#money/3658298/how-to-save-more-money/