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The Invincible 20s

Just started my first job. How can I put away money for retirement, and why should I care about it now?

This is the best time in your life to start saving for retirement because a small, regular contribution has time to grow.

    "The real key is time, not money," says personal finance author Ric Edelman. "You don't have to worry about picking the right stocks or get-rich-quick schemes. All you have to do is start now." Make the process painless by deducting your retirement fund contri­bution from your salary. If your employer doesn't offer a 401(k), open your own Individual Retirement Account.

    Financial planner Kay Shirley, author of Live Long and Profit: Wealth-Building Strategies for Every Stage of Your Life (Dearborn Trade Pub­lishing, 1997), advises those at this age not to track account balances. "Just put the money in, and forget about it," she says.

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