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Tips for saving money for retirement

Have you started saving
money for retirement? Day-to-day expenses can make it challenging to think ahead if ye trying to figure out
how to get started. ABC's Lindsay Watts shares some advice from the experts. No matter how old you are, you might want to consider investing in your retirement. And although it may seem premat, financial expert Farnoosh
Torabi says that young people should look io alternative retirement plans ind of relying on Social Security. e days, it's really important to save for retirement on our own.

For many who are maybe in their 20s or just starting out, a Social Security is not a guarantee. Tarabi suggests considering all of the different investment options in the workp. Like 401K accounts or traditionl plans such as Roth IRA's and brokerage accounts. The good thg about a 401K or other
sort of workplace retirement account is that you n always adjust your contribution.

Start with something small. Start with, you know,
2% or 3%
of your paycheck. People in their 50s might want to consider different types of insurance options, like long term care insurance, which covers services that your basic health plan does not, including assistance with everyday tasks. People who. Invest in this starting
in age 50 will very likely use it by
the time they reach their 70s and older. And for those approaching retirement, it's not
too late to start saving and investing on your ow. Torabi says it's best to have a backup plan for unexpected costn the years ahead, including potel out of pocket health expenses. Lindsey Watts, ABC News..

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