Why a 23-year-old needs to start saving for retirement — and why it’s so hard
By Casey Butler
We spoke with Dan Egan, Director of Behavior Finance and Investments at Betterment, and Qapital founder and CEO George Friedman about why every young adult needs to be planning their financial future — and why it’s so difficult.
“The 20s are a crucial time to start building wealth and saving for retirement,” Egan said. “The younger you start investing, the more you can reap the benefits of compounding and long-term market gains. Additionally, at this age, you can afford to invest more aggressively and take on a little more risk in order to earn better returns.”