Future you will thank present you!
Imagine you're a squirrel storing nuts for winter.
Retirement is like that - you're storing money for when you're older!
When you stop working, you need money for food, bills, and fun!
🇺🇸 401k: Employer-sponsored, often with free money match!
🇺🇸 IRA: Individual retirement account
🇨🇦 RRSP: Canadian retirement savings plan
🇬🇧 Pension: Employer pays you after retirement
The 4% Rule:
Multiply your annual expenses by 25 = how much you need saved!
If you spend $50,000/year → Need $1,250,000 saved!
Starting at 25 vs 35 (saving $200/month):
Start at 25: $487,000 at 65
Start at 35: $234,000 at 65
10 more years = 2x more money!