In all honesty, this is a very weak question. There are very few reasons why you shouldn't be planning and investing for retirement in your twenties. And all the reasons why you shouldn't be yet, you should be working very hard to change. Here are the main reasons why you shouldn't be investing for retirement yet. First, you don't have a job. If you don't have a job, you can't open up a 401K, or IRA, and you will have no money to contribute to any investment account. Second, you are paying off massive amounts of debt. This is a hard one to except because even those who have student loans to pay off should be investing for retirement because student loans usually have a pretty low interest rate.
If you have a full time job, you must talk with your employer about setting up a retirement plan. You don't have to deposit half your check to your retirement. You could even add just 5% and you'd be making progress. In fact, adding 5% of your income wouldn't actually be that much because you don't have to pay taxes on the money you put into a 401K right now. You pay when you withdraw the money.
If you went to college and you have a full time job in your field of interest, you are probably making a good enough salary. If you are living by yourself and have a good salary, there is absolutely no reason why you shouldn't be investing. If you can't afford it, you are live far above your needs. Consider getting a cheaper place to live and living on less. You will also want to be saving for a home, an emergency fund, a future family, etc.
If you never went to college and you are living on a very low salary and can barely make ends meet, you need to think about where you are in your life. If you can't afford to save for retirement, you are not going in the right direction. You need to consider going back to school, getting training for a better job, or finding any other way to make more money at a better job. Since you are still young, you have the perfect opportunity to better your life.
If you already have a family to support, it may seem impossible to invest for retirement. First of all, make sure you are investing for retirement before your kid's college fund. They can always take out loans when it comes time to go to college and pay them back later. Once you've retired you can't take out a loan to survive. You don't want to be working until you die. If you started a family very young and you and your spouse are having trouble, look into furthering both your and your spouse's education and then getting better jobs. Look into any assistance you can get.
Finally, if you are in massive debt, especially credit card debt, you need to focus on getting rid of it within the next 2 to 5 years at least. Once you've paid off every debt not including a single mortgage or student loans, then you can begin investing and planning
Recommend : Special Finance Detail Home Financial
