I have published this previously but good to share it again: Many young people shouldn’t save for retirement, says research based on a Nobel Prize–winning theory – MarketWatch
Based on the life cycle model, many young people are saving for retirement, while in their 20s – indeed, a quick look online finds many experts recommending that young people start saving as soon as possible. And many young people who are now 30 saying they are too late and will never be able to retire.
But the reality is that most people with a college degree end up making more money as they get older and gain experience – and have plenty of time to save for a qualify retirement even if they start much later. This, of course, is contrary to what we are all told.
Instead, the authors suggest spending money on life experiences, which may themselves add value, when young, and start the savings process in ones 30s or 40s.
Read the above link for more on that, or see the links under Retirement in the rightmost column of this page.
