According to Harold Pollack, co-author of The Index Card: Why Personal Finance Doesn’t Have to Be Complicated, it’s easy to have a comfortable retirement. The trick is to start saving as soon as you can. Pollack recommends starting to save while you are still in your 20s. That way, compound returns work in your favor.
He also recommends saving at least 10% of your paycheck every month, living below your means, and investing in low-cost mutual funds. And if you never touch your retirement account, when you are ready to retire, you should have enough money to live well. Saving early also means you can take a few risks with your investments and maybe see some higher returns. Because when you get closer to retirement, you want to be conservative in your investments to ensure that you don’t lose out.