Q:

When should a person start planning for retirement?

A:

Quick Answer

A person should start planning for retirement as soon as he or she is able to earn any amount of money. Saving for retirement is especially important since the average American spends a period of about 20 years in retirement, according to the US Department of Labor.

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When should a person start planning for retirement?
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Full Answer

Planning ahead and including a budget in financial matters are some of the key issues to consider when thinking of retirement benefits. The more money an individual saves the more comfortable he or she is going to live in retirement. There are various programs including the 401(k) run by the government and other financial institutions that help Americans stay on track with regard to retirement planning and saving.

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