Saving for retirement is hard. If we have a hard time saving for Christmas (two months from today!), then how much harder it is to save for a date that is years, maybe decades away? But it’s really important to start saving now. Remember compound interest? The earlier you start, the more time it has to grow.
There are two main types of retirement accounts — pre-tax and post-tax accounts. I found this very handy infographic on the difference between the 401(k) and a Roth IRA. It pretty much sums up what I was going to write today. :)
This is post 25 of a 31-day series on Financial Freedom. Click here to see all of the posts.