At which life stage ages should a person start saving and retirement planning?
A)Before age 30
B)Between 45 to 59
C)Between 31 to 44
D)At 55 to 60 years of age

Question

Quizplus · Accepted Answer

It is advisable to start saving and retirement planning as early as possible, preferably before the age of 30. Starting early allows for compounded interest and more time to build up a sufficient nest egg. Waiting until later in life, such as ages 45 to 59, may require larger contributions and sacrifices in order to catch up on savings. Waiting until age 55 to 60 may also mean a person has missed out on years of potential compound interest and may not have sufficient time to build up their retirement savings.

At Which Life Stage Ages Should a Person Start Saving