When I was 11, I started putting my gift money from birthdays and holidays into a savings account at Chevy Chase, before it was Capital One. It was exciting to see my money grow. Ever since then, I have been putting money into three different savings accounts, and my parents opened an IRA for me a few years ago.
At first, I would contribute the money I saved in coin jars, or from doing chores and things like that. Then I started babysitting at 12 or 13 years old, I was a lifeguard for a while and then worked at a hotel, so I just kept saving money.
My mom always tells me I've saved triple what she and my dad had when they got married. She has raised me and my brother to know that we don't want to be struggling later and that we should save now.
I want to retire comfortably at the time I want to retire at, and I want to live on my own without relying on other people to take care of me. I don't know what the right target amount is to have for retirement, but I'm thinking my number might be $1 million.
A quarter of middle class Americans plan to delay retirement until they are at least 80 years old.
|Justin Bieber just lost 3.5 million Instagram followers|
|Sony exec fires back at President Obama|
|U.S. ends TARP with $15.3 billion profit|
|A defiant Sony scrambles to find a way out for 'The Interview'|
|Republicans to theaters: Don't be 'bullied,' show Sony's 'The Interview'|