You'll probably be working another 25 years before retirement even seems possible, but now is the time to start saving. Why? With so much time to grow, even small amounts of money you sock away in your 20s can add up to huge sums by your 60s.
Start putting money into a retirement plan, like a 401(k) or IRA. Have the funds automatically withdrawn from your paycheck, the experts recommended, and if your employer matches contributions, take full advantage.
Not sure how to invest it? When choosing funds, there's no need to look for income-producing investments at age 25, said Adelina Kieffer, senior vice president at Bryn Mawr Trust. "You are looking for growth, which would be stock funds -- 70% in stocks or even 80%, depending on your risk tolerance."
More on how to invest your 401(k)
