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Is it ever too late to save for retirement?

A. Yes, you want to begin saving at least 5 years before you plan to retire.
B. Yes, you want to begin saving at least 25 years before you plan to retire.
C. Yes, you want to begin saving at least 35 years before you plan to retire.
D. Yes, you want to begin saving at least 45 years before you plan to retire.

1 answer

The answer is none of the provided options (A, B, C, D) is entirely correct.

It is generally considered that the earlier you start saving for retirement, the better, due to the power of compound interest. However, it is never truly "too late" to start saving for retirement. Even if one begins saving later in life, taking proactive steps to save, invest, and possibly adjust retirement plans can still lead to a more secure financial future.

Starting now, regardless of age, can help increase your retirement savings and improve your financial outlook in retirement. So, while starting early is advantageous, starting at any point is better than not starting at all.